Global EditionASIA 中文雙語Fran?ais
    Business

    China has leeway to tackle economic risks, says World Bank

    By CHEN JIA | CHINA DAILY | Updated: 2019-12-20 00:00
    Share
    Share - WeChat

    Chinese authorities have the policy space to tackle economic downside risks, but the counter measures need to be consistent with the structural rebalancing of the country's economy in the longer term, the World Bank said on Thursday.

    The bank maintained its prediction that China's economy will grow at a rate of 6.1 percent this year, before moderating to a projected rate of 5.9 percent in 2020 in its updated research released in December, unchanged from the previous forecast in October.

    The moderate industrial growth and external risks may add to the pressure of a growth slowdown in the short term, the December edition of China Economic Update, said a brief report released by the bank.

    China's GDP growth slowed to 6 percent year-on-year in the first three quarters of 2019, down from 6.6 percent in 2018. The slowdown featured a deceleration in investment growth and weaker investor confidence amid heightened trade policy uncertainty.

    The "Phase One" trade agreement between China and the United States has boosted market confidence, and analysts expect the good news can avoid further escalation of trade disputes and lead to higher trade flows.

    A permanent resolution of bilateral trade tensions would be essential to reduce the negative impacts on the world's second largest economy, said the World Bank.

    Other external risks include a sharper-than-expected slowdown in major economies, particularly in parts of Europe, and weaker global trade and investment, it said.

    Domestically, growth may suffer from the potential adverse effects of financial de-risking in the short term, given its asymmetric impact on private sector financing and the risk of a disorderly unwinding of excessive leverage, the bank explained.

    "Policies need to be carefully balanced to reduce cyclical risks to growth while staying the course on the necessary deleveraging of the economy," said Martin Raiser, World Bank country director for China. "This may require tolerating slower but safer growth in the short term."

    "If downside risks lead to a sharp reduction in growth, the authorities have policy space to act, but this needs to be done in a way that is consistent with the desired rebalancing of the economy toward consumption, services, and private investment and with reducing financial and corporate sector risks," Raiser said.

    The annual Central Economic Work Conference has just concluded last week, which set the basic policy tone for next year. It leaves plenty of flexibility in terms of actual policy implementation and the growth target is still highly important, said Song Yu, chief economist of Beijing Gao Hua Securities Co Ltd.

    Infrastructure investment, as Song mentioned, is expected to be the major driving force to support the economy and avoid a sharp slowdown.

     

     

     

    Today's Top News

    Editor's picks

    Most Viewed

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    国产成人无码一区二区在线播放| 亚洲中文字幕无码久久综合网| 中文无码成人免费视频在线观看| 韩国19禁无遮挡啪啪无码网站| 少妇无码太爽了不卡视频在线看| 国产品无码一区二区三区在线蜜桃| 一级电影在线播放无码| 亚洲AV无码国产精品色午友在线 | 亚洲国产精品成人精品无码区在线| 中文字幕人妻无码一区二区三区 | 亚洲av无码精品网站| 欧美日韩中文字幕在线看| 精品无码三级在线观看视频| 性无码一区二区三区在线观看| 中文字幕手机在线视频| 天堂√中文最新版在线| a最新无码国产在线视频| 无码人妻精品一区二区三区久久 | 亚洲AⅤ永久无码精品AA| 免费无遮挡无码永久视频| 在线观看免费无码专区| 日韩精品一区二区三区中文字幕 | 日韩乱码人妻无码中文字幕久久| 国产免费黄色无码视频| 色窝窝无码一区二区三区色欲| 一区二区三区人妻无码| 麻豆国产精品无码视频| 免费无码又爽又刺激高潮软件| 亚洲欧美在线一区中文字幕 | 超清中文乱码字幕在线观看| 精品亚洲成α人无码成α在线观看| 日韩精品无码一区二区三区免费| 亚洲成a人片在线观看无码专区| 久久午夜夜伦鲁鲁片免费无码影视| 国产一区三区二区中文在线| 中文字幕日本高清| 久久精品?ⅴ无码中文字幕| 亚洲欧美精品综合中文字幕| 在线中文字幕精品第5页| 无码AV动漫精品一区二区免费| 国产成人无码区免费内射一片色欲 |