Global down­turn drag­ging growth

China Daily (Hong Kong) - - BUSINESS -

A global eco­nomic down­turn is the main rea­son be­hind China’s slow­down in growth, rather than do­mes­tic is­sues, said Justin Yifu Lin, former chief econ­o­mist of the World Bank. The con­tin­ued slow­down in China’s eco­nomic growth is more the re­sult of ex­ter­nal and cycli­cal fac­tors, he said at a fo­rum held by Pek­ing Uni­ver­sity on Sun­day. China’s GDP grew 6.7 per­cent in the first three quar­ters of 2016, steady with the first half and within the gov­ern­ment’s tar­get range of be­tween 6.5 and 7 per­cent for 2016. In 2015, China’s econ­omy recorded the slow­est an­nual ex­pan­sion in a quar­ter of a cen­tury by grow­ing 6.9 per­cent yearon-year.

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