China's economic growth is predicted to further decelerate this year to 6.7 percent, the slowestsince 1991, trapped by manufacturing overcapacity and sluggish export, said a think tank reporton Tuesday.
The year-on-year GDP growth in 2015 is possible to achieve 6.9 percent, down from 7.4 percentin 2014, predicted by the same report from the Center for Forecasting Science, ChineseAcademy of Sciences (CAS).
It is less likely for the three major driving forces of economic growth – consumption, investmentand export, to bottom out over the year affected by the economic downward pressure, said thereport.
It indicated the strongest support of the world's second largest economy will be domesticconsumption in the coming months, which will contribute 4 percentage points, compared with 2.6percentage points from investment and 0.1 percentage points from export.
Stimulus on these driving forces, or the "demand side" will be less efficient to stabilize the growthbecause of the serious overcapacity problem, thus the government policy will focus on structuringreforms on the "supply side", said Chen Xikang, a professor of Academy of Mathematics andSystems Science under the CAS.
The report forecasted a 10.5 percent year-on-year growth of retail sales this year, down from apossible 10.7 percent growth in 2015. The fixed-asset investment will remain stable around 10percent. The export, meanwhile, is likely to rebound to a 3.9 percent growth from a drop of 1.8percent.
The forecast was published two weeks before the National Bureau Statistics' release of the 2015GDP growth rate and other major economic indicators.
about Us:
Company:Meifeng Factory
Supply portable wardrobe,metal hanger,shoe rack and other home furniture products.
E-mail:factorymf@fjmf888.com
webiste:www.factorymf.com
IPv6 network supported
