Hot topics under discussion at the 2017 Summer Davos

Topic two: China Economy Outlook

Li Daokui, professor of Tsinghua University, delivers a speech at China Economy Outlook forum of the 2017 Summer Davos in Dalian, Northeast China's Liaoning province, June 28, 2017. [Photo/VCG]

China's economy in 2017 will grow 6.7 percent with a slight decline in second half of the year. Next year it will grow 6.9 percent or close to 7 percent. The three factors that affect China's economy are international influence, cyclical factors and changes in China's own political and economic system. Public financial reform is very important and as local government is driven by financing, Li Daokui, professor of Tsinghua University, suggested central government's tax revenue should return to local governments.