Trade Resources Industry Trends China's Top Think Tank Forecasts 6.8 Percent Growth

China's Top Think Tank Forecasts 6.8 Percent Growth

China's Top Think Tank Forecasts 6.8 Percent Growth

China's top think tank predicts that China will see its economic growth post between 6.6 and 6.8 percent in the coming year.

The number comes ahead of a major economic conference this week, during which authorities are to evaluate the current situation and map out the country's economic target for the following year.

Li Yang, a researcher with the Chinese Academy of Social Sciences, says fast growth is no longer the country's prime focus.

"China's goal is to develop comprehensively. Besides GDP, we should focus on providing a more comfortable life to people. So when assessing China's economy, we need to discard the old standards and place more focus on the environment, quality and efficiency of growth."

The think tank also suggested the central bank adopt a "structurally loose" monetary policy and a more flexible exchange rate for the Chinese currency.

On Wednesday, China's central bank projected its baseline forecast for next year's growth at 6.8 percent.

Source: http://english.cri.cn/12394/2015/12/18/4201s908940.htm
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