Chinese economy set for stable development during 2020s: expert

    Source: Xinhua| 2018-01-26 10:55:42|Editor: Jiaxin
    Video PlayerClose

    BEIJING, Jan. 26 (Xinhua) -- China's economy is likely to grow by around 5 to 6 percent in the 2020s, remaining at the medium-pace growth section of the L-shape pattern, China Daily reported Friday citing a senior researcher at a government think tank.

    Liu Shijin, vice president of the China Development Research Foundation, said at the China Finance Annual Forum the economy had entered a moderate growth track and would continue to grow at the bottom part of the L-shape pattern.

    The L-shape pattern comes when the economic growth rate first falls and then levels out, thereafter maintaining medium-pace growth.

    He said that the recent recovery of industrial profits was likely to support the Chinese economy to rebound a little in the coming months, but it does not point to a major increase of the country's growth pace.

    Profits of China's major industrial firms increased 21 percent year on year in 2017, the fastest pace since 2012, according to a statement released Friday by the National Bureau of Statistics (NBS).

    The reading was 12.5 percentage points faster than the growth rate registered in 2016.

    Liu said that to achieve its target of doubling GDP by the end of 2020 from a decade earlier as scheduled, Chinese economy needs to grow 6.3 percent annually.

    In 2017, the figure stood at 6.9 percent, picking up for the first time in seven years and well above the government annual target of around 6.5 percent.

    Such better-than-expected growth has been propped up by booming domestic consumption, robust trade, and new technologies which boosted external demand and international labor productivity, analysts said.

    To ensure the steadfast transition toward high-quality development, however, some efforts must be taken, including reducing the size of the government balance sheet.

    Liu said the government needs to develop more sustainable financing channels to attract private capital to invest in public goods and solve the piling up of local government debts.

    Bert Hofman, the World Bank's country director for China, Mongolia and Korea in the East Asia and Pacific Region, said that local governments should not bail companies out or provide guarantees for debt repayment, but should let borrowers shoulder their own responsibilities instead.

    Ren Zeping, chief economist of Chinese property developer Evergrande, said that efforts to deal with financial risks need to be implemented steadfastly for at least the next three years, otherwise existing problems will trigger new risks affecting the healthy growth of the economy.

    TOP STORIES
    EDITOR’S CHOICE
    MOST VIEWED
    EXPLORE XINHUANET
    010020070750000000000000011100001369263291
    主站蜘蛛池模板: 亚洲精品老司机| 性高湖久久久久久久久aaaaa | 少妇性俱乐部纵欲狂欢少妇| 伊人婷婷综合缴情亚洲五月| 97人妻人人揉人人躁人人| 欧美亚洲国产激情一区二区| 四虎永久在线观看免费网站网址| 永久黄色免费网站| 娇妻第一次被多p| 亚洲国产精彩中文乱码av| 香蕉视频黄在线观看| 少妇高潮惨叫喷水在线观看| 亚州日本乱码一区二区三区| 热RE99久久6国产精品免费| 国产三级网站在线观看播放| www.日本在线播放| 欧美成人看片黄a免费看| 国产午夜精品一区理论片| www视频在线观看天堂| 日本高清视频网址| 亚洲日本va午夜中文字幕一区| 香蕉久久国产精品免| 国产精品资源站| yellow版字幕网| 欧美18videos极品massage| 国产一区免费视频| Av鲁丝一区鲁丝二区鲁丝三区 | 最近在线2018视频免费观看| 亚洲精品字幕在线观看| 黑人啊灬啊灬啊灬快灬深| 少妇无码av无码专区在线观看| 久久精品中文字幕第一页| 欧美国产日韩另类| 四虎影院免费视频| 韩国福利一区二区美女视频 | 嗯嗯啊在线观看网址| 91视频第一页| 婷婷综合激六月情网| 久久99精品久久久久久综合 | 美女免费网站xx美女女女女女女bbbbbb毛片 | 国产精品揄拍一区二区|