2017 growth may slow down more: re­port

China Daily (Canada) - - NEWS CAPSULE -

China’s economic growth may con­tinue to slow in 2017 to 6.5 per­cent be­fore pos­si­bly bot­tom­ing out in 2018, ac­cord­ing to a new re­port.

As China’s econ­omy showed signs of sta­bi­liza­tion in the first three quar­ters with a growth rate of 6.7 per­cent, the rate for the whole year may also reg­is­ter the same pace, ac­cord­ing to a re­port by the Ren­min Univer­sity of China (RUC) National Academy of De­vel­op­ment and Strat­egy.

“The year 2017 will be a year when China’s econ­omy con­tin­ues the bot­tom­ing process,” Mao Zhen­hua, co-chair of the RUC in­sti­tute of economic re­search, said while de­liv­er­ing the re­port, which fore­cast that growth in 2017 may fur­ther de­cline to 6.5 per­cent be­fore pos­si­bly re­bound­ing in 2018.

In the medium to long term, bonuses from glob­al­iza­tion, in­dus­tri­al­iza­tion and a large pop­u­la­tion sus­tained growth have been dwin­dling, Mao said.

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