The economy of China will resist the pressure down to maintain the looming growth of about 7% in the future thanks to the pleasant conditions that arise, a leading economist said Thursday (6/8).
Already reached the 30% points below its peak, growth will maintain its present level in the coming period if reform throughout the country and a boost to innovation worked well, said Wang Yiming, Deputy Director of the Development Research Center of the State Council.
Wang suggested several factors that will move the economic engine to keep it smooth.
China has a strong economic foundation with the most complete industry system in the world and the largest mobile network, said Wang, who convinced the economy will muster the power push because of industrialization and his urbanization far from over.
Chinese companies will take advantage of opportunities new opportunities during the next round of global economic adjustment, said Wang.
The second, he said, consumption will play a much more significant role, having already contributed 60% against the increase in the economy in the first half, up 5.7% compared to the same period the points last year. Huge investment is needed in various sectors including a reduction in the level of poverty, environmental protection, water conservation and urban renovation, he added.
Thirdly, the encouragement of innovation of China going to improve technology, business management and commercial models, to the use of the capital will be much better and sustain growth in overall productivity factors, economists said it.
He also mentioned about the integration technologies such as robots, the new material with traditional industries, and the Central and Western regions of the country that was on the rise as two bright spots.
Affected by the global depression and the restructuring of the domestic economy, the country is the world's second most bigest it slump since the global financial crisis. Its development becomes bright after official data showed the economy grew 7% in the second quarter of 2015. https://www.mql5.com/en/signals/120434#!tab=history
