2017 growth may slow down more: report
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.