GDP to grow 6.7% in H1

CHINA’S economy is seen to grow 6.7 percent in the first half of 2018, slightly below the growth in the first quarter but showing continued resilience, said a forecast by financial institutions and economists.

Despite some external uncertainties, China’s economy continued to improve amid a global economic recovery, rising new growth momentum and a warming property market, said a report released by the international financial research institution with the Bank of China.

Lian Ping, chief economist of the Bank of Communications, also forecast growth of 6.7 percent.

In the second quarter, the contribution of consumption and investment to economic growth may come in at 70 percent and 35 percent. Although net exports made negative contribution to growth, the fast growth of exports helped lift manufacturing production and investment, Lian said.

For the second half of the year, chief economist of CITIC Securities Chu Jianfang believes there will be no big risk of recession as the economy continues its resilience.