Business / Economy

Chinese economy outlook upbeat amid favorable policy: experts

By Oswald Chan in Hong Kong ( Updated: 2016-01-21 13:49

Chinese economy outlook upbeat amid favorable policy: experts

A worker welds at a construction site in Yiliang, Yunnan province, February 28, 2015.[Photo/Agencies]

Editor's note: Chinese economic growth slowed to the 25-year low of 6.9 percent in 2015, down from 7.3 percent in 2014, according to data released Tuesday by the National Bureau of Statistics. While many start to worry the weakening growth may undercut confidence and rattle the world as a whole, others see it as a necessary phase amid the ongoing transition and stay upbeat about the world's second-largest economy.

Aidan Yao, emerging Asia economist at AXA Investment Mangers

"We think the policy environment remains accommodative. Increased government spending, along with faster credit growth, will put a floor under growth in the coming months as the government shifts its focus to managing financial and economic risks and accelerating structural reforms."

Liu Li-gang, chief economist at Australia and New Zealand Banking Corporation

"As gradual rebound in growth could start in 2018, together with an upward property market cycle and political business cycle, it is still possible that the mainland could achieve an average 6.5 percent growth during its 13th Five Year Plan (2016-2020). This is to be achieved on the ground that the central government takes decisive measures to tackle the highly indebted corporate and local government sectors in the coming two years."

Chang Jian, economist at Barclays

"The central government has recently highlighted supply-side structural reforms, such as capacity unwinding, destocking and deleveraging, along with other initiatives such as innovation. We believe consumption growth will remain a bright spot given mainland middle-class consumption upgrading."

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