China's economic outlook remains largely stable: German institute

Updated 2018-01-17 10:53:04 Xinhua

The expectations for China's economy in the coming 12 months have improved again, German economic research institute Center for European Economic Research (ZEW) reported on Tuesday.

The ZEW indicator, which reflects the expectations of international financial market experts regarding China's macroeconomic development, has improved.

Although the figure in January is still below the long-term average of 5.1 points, the survey does not reveal a downward trend in expectations, the Mannheim-based think tank noted, adding that expectations have been seen to fluctuate around a relatively constant average value since around 2014.

In addition, ZEW experts predict that China's real GDP will grow by 6.6 percent in 2018 and by 6.5 percent in 2019.

"The most recent survey results thus continue to paint a fairly positive view of China's further economic development," said Dr. Michael Schroeder, senior researcher with ZEW.

The World Bank last month also raised its forecast for China's economic growth in 2017 to 6.8 percent, up from the 6.7 percent it projected in October, citing stronger personal consumption and foreign trade.

The International Monetary Fund sees China's 2017 growth also at 6.8 percent.

China's economy expanded by 6.9 percent in the first two quarters of 2017 and slowed slightly to 6.8 percent in the third quarter. Overall growth for the first three quarters was 6.9 percent, above the government's annual target at around 6.5 percent.

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