IMF raises China growth forecsast to 9.9% in 2011 (by Chris Oliver)

HONG KONG (MarketWatch) -- The International Monetary Fund revised its growth outlook for China next year to 9.9%, up from the 9.7% growth it had forecast three months earlier, an indication the global monetary body doesn't expect China's growth to cool much from the 10% expansion it is forecasting this year. The IMF also said Wednesday China should let the yuan appreciate into order to curb excess demand pressures. Allowing its currency to rise would also help reallocate resources towards domestic demand, Olivier Blanchard, chief economist for the IMF was cited as saying Wednesday.