China’s top think tank revises 2015 growth rate

China’s top think tank revises 2015 growth rate photo China’s top think tank revises 2015 growth rate

“I think it’s a combination of missteps that add up to a lot of worries, capacity of the Chinese government to manage its economy through a very challenging environment and not making it worse”, said Scott Kennedy of the Center for Strategic and global Studies.

The Chinese Academy of Social Sciences (CASS) said in its “blue book” report on China’s economy that the slowdown was wrought by falling investment by companies and individuals, and growing debt pressures faced by local governments, the Shanghai Securities News reported.

During a tumultuous summer, Chinese stocks were hit by repeated plunges and most of economic indicators were soft.

While China and the United States are expecting much from Xi’s visit, China-Britain cooperation has born fruit.

The effect of these measures will become more apparent in H2, helping the economy and, with the base effect taken into account, will ensure the annual GDP growth target, of around 7 percent, is achieved, Niu forecast.

It’s also keeping China’s full-year growth rate at around 7 per cent – in line with the government-set target.

However, some economists are candid about the problems facing further growth in consumer spending in China.

The country’s top brass have projected confidence, too.

In a rare interview given to The Wall Street Journal, President Jinping emphasized the increasing push towards sustainable growth for China’s transitioning economy, saying that China would “forge ahead against all odds to meet our goals of reform”.

“Any ship, however large, may occasionally get unstable sailing on the high sea”, Xi said.

Growth in the services sector has outpaced that of the manufacturing sector in the past year and a half, according to the latest National Bureau of Statistics of China data compiled by Wind information.

China’s economic woes, it may be time to page Dr. Copper.

With a plan to overhaul state-owned enterprises released earlier this month, and confirmation that more businesses will be allowed to accept foreign investment from 2018, China looks on course to navigate the choppy waters of structural transformation and economic growth.

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