Gold­man sees 2017 growth slow­ing

China Daily (Hong Kong) - - BUSINESS -

Gold­man Sachs ex­pects China to regis­ter lower an­nual growth in 2017 as prop­erty and auto sales are likely to slow down. The bank fore­casts a slight slow­ing in China’s GDP growth to 6.5 per­cent in 2017, from a forecast of 6.7 per­cent in 2016. Although Gold­man Sachs only ex­pects a mod­est slow­ing in real es­tate in­vest­ment in 2017, it sees both price and trans­ac­tion growth slow­ing sig­nif­i­cantly, mean­ing a much lower con­tri­bu­tion to China’s GDP growth from the hous­ing sec­tor in 2017. In a re­port to clients, the bank noted auto sales growth may slow sharply to 3 per­cent in 2017, from an es­ti­mated 15 per­cent this year, as the gov­ern­ment is likely to cut tax re­bates for auto pur­chases in half. e-com­merce firm joined hands to boost growth. Un­der the agree­ment, the two sides will work closely in ba­sic telecom­mu­ni­ca­tion ser­vices, in­for­ma­tion in­fra­struc­ture, mar­ket­ing and emerg­ing sec­tors, China Mo­bile said in a state­ment. The move came shortly af­ter Alibaba inked a sim­i­lar deal with China Uni­com, the coun­try’s sec­ond largest tele­com car­rier, last month. China Mo­bile is step­ping up ef­forts to ex­pand pres­ence in the in­ter­net in­dus­try, and China Uni­com also wants to ar­rest its con­tin­u­ing profit de­cline by part­ner­ing with in­ter­net gi­ants. on ex­chang­ing ideas with friends from all sec­tors of the com­mu­nity. It is de­voted to the Belt and Road Ini­tia­tive and is look­ing for­ward to grasp­ing the op­por­tu­ni­ties along with en­trepreneurs and fi­nanciers from var­i­ous coun­tries. AROUND THE WORLD

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