World Bank projects China's economy to grow 6.5 pct in 2018

          Source: Xinhua| 2018-12-20 21:02:54|Editor: Li Xia
          Video PlayerClose

          BEIJING, Dec. 20 (Xinhua) -- The World Bank on Thursday projected China's economy to grow 6.5 percent in 2018, adding that the country's economy "continues to perform well."

          "Consumption will remain the main driver of growth, while higher investor uncertainty and slower credit growth are expected to weigh on investment," said John Litwack, World Bank Lead Economist for China.

          He noted a deceleration in global demand growth and higher U.S. import tariffs would negatively affect net exports. Authorities have the policy space necessary to support the economy in the current environment of high uncertainty.

          The China Economic Update, the World Bank's regular assessment of China's economy, notes that the current account recorded a small deficit in the first three quarters of 2018, primarily driven by stronger imports.

          In response to slowing growth and a challenging external environment, the government introduced tax incentives for households and firms, additional support for small businesses, and higher local government capital spending.

          To stimulate the economy, China has room to shift government spending toward health, education, and social protection.

          "Such measures would create jobs, deliver higher-quality public services, and provide better support to vulnerable families. In the short term, these measures would encourage households to save less and spend more. In the long run, they would boost worker productivity and China's growth potential and help the country achieve a more equal society," said Elitza Mileva, World Bank Senior Economist and main author of the Update.

          TOP STORIES
          EDITOR’S CHOICE
          MOST VIEWED
          EXPLORE XINHUANET
          010020070750000000000000011100001376876551
          无码人妻一区二区三区四区av_亚洲精品911在线永久观看_精品一区二区国产在线观看_日韩不卡一区二区视频在线

                  日韩AV有码在线播放二区 | 亚洲欧美另类在线一区二区三区 | 日本特黄特黄刺激大片 | 日韩欧美理论在线观看 | 午夜福利在线不卡 | 在线看片免费人成视频福利 |