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China’s Economic Growth in 2018 at 6.7 Percent: Institutions

Pub Date:18-01-05 11:08 Source:People's Daily

Economic institutions predicted that China's economy will remain stable in 2018 with growth rate at around 6.7 percent, Xinhua-run Economic Information Daily reported on Jan 3.

Chinese economists forecast that the economic growth for 2017 is 6.8 percent, and the same growth rate will be maintained in 2018, according to a survey carried out by the Institute of Industrial Economics (IIE) under Chinese Academy of Social Sciences (CASS).

The CASS released a blue book on the Chinese economy, predicting that economic growth in 2018 to come at 6.7 percent, the same figure as predicted by the Institute for Advanced Research of Shanghai University of Finance And Economics.

While stabilizing growth, the country will pay more attention to improving quality and efficiency, according to a report recently released by the Institute of International Finance under Bank of China.

The IIE’s survey found that in 2017, Chinese economists were more confident about the future growth of foreign trade than before, with 45 percent of the surveyed economists believing that exports in the last three months of 2017 would rise year on year.

Zhu Baoliang, chief economist at the State Information Center, believes that while achievements have been made in the supply-side structural reform, overcapacity remains a problem in traditional industries.

Experts say that the Chinese economy has transformed from high-speed growth to high-quality development. The country’s economy is now experiencing a difficult period of changing development model, improving structure, and changing growth drivers.

They warned that tasks related to structural contradictions of the economy, financial risks, and economic delivery still must be solved.

Editor:Will

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