Login

Reload

Remember me Forgot it?

Not a subscriber?

Click on the button below to create your account and get immediate access to Xinhua Silk Road Database.

Start a Free Trial

Subscribe

Belt & Road Weekly Subscription Form

Research Report

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Economy

HOME > Economy


Economist predicts steady expansion in China's GDP

June 14, 2018


Abstract : The Chinese economy will maintain steady growth this year as structural reforms have made notable progress, an expert has said.

5b20dac4a31001b8b9bc304b

BEIJING, June 14 (Xinhua) -- The Chinese economy will maintain steady growth this year as structural reforms have made notable progress, an expert has said.

ICBC International economist Cheng Shi predicts China's GDP will grow 6.9 percent year-on-year in 2018, with continued strength from last year.

"We remain cautiously optimistic about China's economic future, and areas related to the new economy and consumption upgrades will create fresh investment opportunities," Cheng said.

The country's retail sales are expected to rise 10.3 percent for the whole year, fixed asset investment up 7.1 percent, and imports up 20.5 percent. Inflation will remain tame, with the consumer price index up 2.4 percent.

Cheng attributed the solid economic indicators in part to China's successful economic transition and opening up.

"The supply-side structural reform has made great progress and serves as the backbone of the country's new economic resilience," Cheng said.

Thanks to restructuring policies, the economy witnessed a rosy start in 2018, with improving corporate profits and robust private investment. Financial risks were also eased as macro leverage growth slowed and shadow banking shrank substantially.

Cheng said tech firms flourished with the help of innovations in the capital market.

"A positive cycle between reforms and economic resilience has taken shape, creating enormous room and momentum for further reforms in the second half of the year," Cheng said.

The economy has held steady since the beginning of the year against rising uncertainties in global markets.


Related Coverage

Focus

Think Tank

  • China’s fiscal policy needs to boldly break free of...

    November 21, 2018

    Given the unprecedented complexity of the situation, coupled with downward p...

  • China and Canada eye more mutually beneficial trade ...

    November 21, 2018

    The USMCA trade deal, widely known as a "poison pill" aimed at China, will n...

  • China-EU cooperation can safeguard WTO rules

    November 20, 2018

    Amid what looks like a prolonged China-US trade friction, the combined effor...

  • ASEAN-China trade boosting growth

    November 20, 2018

    With China and ASEAN being key growth engines for the Asia-Pacific region as...

  • Ask Us A Question

    If you have any questions, please enter them in the box below.

    Reload

    Write to Us

    Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

    Click on the button below to create your account and get imhttp://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

    Start a Free Trial