China economy rises 6.6% in the fourth quarter
The Chinese economy is expected to surge at an annual 6.6% in the fourth quarter and post overall growth of about 6.7% for the full year, as the China Academy of Social Sciences informed.
The predictions by CASS, a prominent think-tank that advises the government, were issued by the official Shanghai Securities Journal newspaper on Wednesday. They turned to be in line with the authorities’ full-year forecasts of 6.5-7% growth.
Economic growth in the fourth quarter is about to drop modestly, though within a normal and stable range.
The Asian country announced a target range for GDP growth for the first time in 2016, indicating that the country is currently on track for its slowest growth since 2009.
CASS stressed that fourth-quarter growth would be impacted by the government-directed clean up of excess capacity as well as debt, while traditionally strong growth drivers, including infrastructure, private investment and property faced downward pressure.