China's economic growth slowed to 6.3 percent in 2019: economists



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This content was released on November 25, 2018, 13:39

SHANGHAI (Reuters) – China's economic growth this year would be 6.6 percent and slow down to 6.3 percent in 2019, while the Asian giant faces trade-related challenges and structural reforms. economist report from Renmin University in Beijing.

The projections published late Saturday by the Chinese Academy of Social Sciences news agency are in line with the average forecast of 73 economists in Reuters last month.

Beijing is growing pressure to trade with the United States.

But economists warned in the report that China would continue to face difficulties, even though tensions with the United States were resolved as a result of global trade deterioration, export growth and the weakening of the exchange rate.

China's GDP (GDP) grew by 6.5% in the first quarter of the year compared to the previous year and was the lowest growth since 2009. Beijing has been trying to encourage commercial banks to increase loans to private companies and take measures to alleviate the financing problems of companies.

Economists argued that China needs a new round of structural reforms. They also predicted that 2019 would be critical to the restructuring of the country's economy and its long-term transition to a slower, higher-quality growth model.

The report notes that next year China should also see balancing China's foreign trade and the likelihood that imports will increase by 16.1 percent, compared with a 6.1 percent increase in 2018.

In addition, the report notes that China's consumer spending may grow by 9% next year, exceeding the overall growth rate.

(Reporting by David Stanway, edited in Spanish by Javier Leira)

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