Monday , June 27 2022

According to economists, China's growth would fall to 6.3% in 2019.



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Stock Photo of China Flag near some corporate buildings in Hong Kong. July 6, 2018. REUTERS / Bobby Yip

SHANGHAI (Reuters) – China's economic growth was 6.6 percent this year, while the Asian giant was confronted with trade-related challenges and structural reforms in 2019 to 6.3 percent. An economist's report from Renmin University in Beijing.

Estimates published late Saturday by the Chinese Social Sciences Academy's news service, were parallel to the average forecast of 73 economists run by Reuters last month.

Beijing is under increasing pressure from the trade war with the US.

However, economists warned that China will continue to face difficulties, despite the disruption of the United States, as a result of the deterioration in the global trade environment, the decline in exports and the depreciation of money.

China's Gross Domestic Product (GDP) reached its lowest level since 2009 with an annual growth of 6.5% in the September quarter, and Beijing has sought to encourage commercial banks to lend to private companies. measures to mitigate financing problems of companies.

Economists have argued that China needs a new round of structural reforms. In addition, they predicted that 2019 would be critical for the restructuring of the country's economy and for a longer-term transition to a slower, better-quality growth model.

The report also noted that China's foreign trade rebalancing was also seen next year. Imports pointed to the possibility of a 16.1 percent increase in imports compared to an increase of 6.1 percent in 2018.

In addition, the report shows that Chinese consumer spending may increase by 9 percent next year and may exceed overall growth.

Information from David Stanway; Edited by Javier Leira in Spanish

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