China's economic growth could slow to 6.3 percent next year but there is no risk of a "hard landing" of the country's economy, the Chinese Academy of Social Sciences (CASS) said in its annual report on Monday
BEIJING (Pakistan Point News / Sputnik - 24th December, 2018) China's economic growth could slow to 6.3 percent next year but there is no risk of a "hard landing" of the country's economy, the Chinese academy of Social Sciences (CASS) said in its annual report on Monday.
"In 2019, the situation in the world will be even more uncertain and, according to preliminary forecast, the growth of China's GDP will slow by 0.3 percent and will stand at 6.3 percent," the report read.
At the same time, the paper said that even with this growth rate, China's contribution to the development of the world economy would still remain one of the most significant as the "hard landing" of its economy was not expected.
The Chinese authorities set the economy growth rate this year at around 6.5 percent. At the end of 2017, China's GDP growth accelerated to 6.9 percent, compared to 6.7 percent in 2016.
