Global EditionASIA 中文双语Français
Home / Business / Macro

Economic growth projected at 6 percent in 2019

By Wang Yanfei | | Updated: 2018-12-05 16:49
Share - WeChat
A bird's-eye view of the central business district in Beijing. [Photo/IC]

Weighted down by domestic and external factors, China's economic growth is projected to achieve about 6 percent in the next year as policymakers try to strike a balance between deleveraging and ensuring proper growth, according to Moody's Investors Service.

The baseline scenario for China assumes GDP growth of 6 percent in 2019 and 2020, down from a forecast of 6.6 percent in 2018, as the external environment and trade issues are putting the brakes on growth in the world's second-largest economy.

While future policies are expected to cushion some downward pressure, internal structural changes, including aging problems and a slowdown in savings rates, are some factors that may drag down growth amid the nation's rebalancing process, according to Li Xiujun, a vice president with Moody's.

"The country's deleveraging and de-risking campaigns are showing some progress, although deleveraging will slow and general government debt will increase as growth weakens," said Martin Petch, a Moody's vice president with the Sovereign Risk Group.

China has already adopted a slew of measures to stop the economy from declining, including accelerated spending on infrastructure and multiple cuts to bank reserve requirements.

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349