Economic outlook optimistic for China

Economists believe the developed world's growth prospects will worsen this year. In fact, on Feb 7, the European Commission further cut this year's growth forecast for the European Union from 2 percent to 1.5 percent, and lowered the growth expectation for Germany from 1.8 percent to 1.1 percent.

As for the United Kingdom, uncertainty over Brexit has had a huge impact on its economic prospects. The Bank of England has cut its forecast for the UK's growth in 2019 from 1.7 percent to 1.2 percent. And on Feb 8, the Reserve Bank of Australia cut its expectation for Australia's growth rate till June 2019 from 3.25 percent to 2.5 percent.

The December spending for the United States, published on Feb 14, too, saw a 1.2 percent month-on-month drop, far lower than the 0.2 percent increase previously expected. Later, the Atlanta branch of the US Federal Reserve cut its estimate for the US' fourth-quarter growth for 2018 from 2.7 percent to 1.5 percent.