China’s central bank governor Zhou Xiaochuan said on Sunday that China’s economy is expected to grow by 7 percent in the second half, faster than the first six months. He was speaking at the IMF annual meetings in Washington, DC. This defies analysts’ expectations of slower growth due to higher borrowing costs and stricter property curbs. The driving force behind the expansion is rising household consumption. The governor added that the services industry has contributed 55 percent to economic growth, a big jump this year. Meanwhile, Zhou warns the nation’s overall leverage ratio is still high and calls for more fiscal policy clarity and constraint of local government debt.
Subscribe to us on YouTube: https://goo.gl/lP12gA
Download our APP on Apple Store (iOS): https://itunes.apple.com/us/app/cctvnews-app/id922456579?l=zh&ls=1&mt=8
Download our APP on Google Play (Android): https://play.google.com/store/apps/details?id=com.imib.cctv
Follow us on: