China’s GDP expected to grow by 7% in H2 of 2017

China’s GDP expected to grow by 7% in H2 of 2017

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.

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2 Replies to “China’s GDP expected to grow by 7% in H2 of 2017”

  1. Half the oil producing countries sell oil in RMB so China has access to cheap fuel for increased industrial output and electronic based services.

    7% is a bit low after the recent political and economic victories against the US.

    Should aim for at least 12% for next 5 years.

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