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China's economy predicted to grow 6.7 pct

CNC
Added On July 10, 2018

China's economy is predicted to expand 6.7 percent in the first half of 2018.
 
That's according to forecast by financial institutions and several economists, who also predict the strong growth to carry on for the rest of the year.
 
According to a forecast by financial institutions and economists, China's economy expanded 6.7 percent in the first half of 2018.
 
If true, that would be slightly slower than the 6.8 percent seen in the first quarter - but still very high by global standards.
 
The report -- put together jointly with the Bank of China -- predicts that China's economy has largely shrugged off external uncertainties. Instead,it is being propelled by underlying momentum, a warming property market, and stronger global economic recovery.
 
Lian Ping, chief economist of the Bank of Communications, predicts that rising consumption and investment will continue to drive economic growth.
 
While Chu Jianfang, chief economist at CITIC Securities, says there is no big risk of recession. He predicts the economy to remain resilient, thanks to: rising industrial investment, steady infrastructure investment, and warming external demand.
 
Official data for the second quarter will be released on July 16.