Ex-advisor: Economy nearing bottom

The Chinese economy may be hitting the bottom rung of its growth cycle or will bottom out in one or two years, according to a leading academic and former top government advisor.

Then it will enter a mid-rate growth track, said Liu Shijin, former deputy head of the State Council's Development Research Center.

"The Chinese economy is near its bottom and we should not be pessimistic about its growth prospects," he said.