Asian economies are on track to reach higher growth this year and in 2018, buoyed by a rebound in global trade and improved prospects for China, the Asian Development Bank (ADB) said Tuesday, according to dpa. The Manila-based bank kept its economic growth projection for the region at 5.9 per cent in 2017 and 5.8 per cent in 2018, unchanged from its forecast in July but up from the initial outlook of 5.7 per cent for both years in April. "Growth prospects for developing Asia are looking up, bolstered by a revival in world trade and strong momentum in China," said Yasuyuki Sawada, the bank's chief economist. "Countries in developing Asia should take advantage of favourable short-term economic prospects to implement productivity-enhancing reforms, invest in badly needed infrastructure, and maintain sound macroeconomic management to help increase their long-term growth potential," he added. The bank noted that the region's exports surged by 11 per cent in the first five months of 2017, while imports rose by 17 per cent in the same period over last year. The pick-up followed two consecutive years of contracting export values, amid falling commodity prices and subdued external demand, it added. "Expansionary fiscal policy and unanticipated external demand helped China exceed expectations in the first half of 2017," the bank said, raising its forecast for growth to 6.7 per cent in 2017. The bank warned policymakers to strengthen financial positions and monitor debt levels due to the United States' tightening monetary policy, which was winding down its monetary stimulus package in the region and raising interest rates.