The “East Asian and Pacific Regional Economics Semi-annual Report†released by the World Bank on the 13th predicted that the growth rate of the Chinese economy will slow down to 7.1% and 7.0% respectively in the next two years. This prediction is more significant than the World Bank’s report released in October last year. Lowered.
In 2014, China's economic growth slowed to 7.4%, 2.3 percentage points lower than the average growth rate over the past 30 years. Against this background, the World Bank’s expectations of China’s economic growth have also continued to slow. In April last year, the World Bank had predicted that China's economic growth rate in 2015 will reach 7.5%, and then lowered to 7.2% in October last year.
Although the predicted value of China’s economic growth was lowered again, the World Bank’s forecasted value is still higher than the 7% growth target set by China at the beginning of the year. The World Bank stressed in its report that as the growth model shifts from investment-driven to consumer-led, the main challenge for China is to implement reforms that are conducive to ensuring long-term sustainable growth. It is suggested that China's policy of promoting growth should focus on supporting structural restructuring.
Sudir Shetty, chief Asia Pacific chief economist of the World Bank, said that although there is a risk of slowdown in China's economic growth, there will be no sharp drop in the growth rate, and the overall economic development in China is still optimistic.
Looking around East Asia and the Pacific, the World Bank report points out that the economic growth of developing countries in East Asia and the Pacific region will slow down slightly this year. The latest World Bank forecast shows that developing economies in East Asia are forecast to increase by 6.7% in 2015 and 2016, which is a slight decrease from 6.9% in 2014.
“Although the growth in East Asia has slightly slowed down, the region’s contribution to global growth has still reached one-third, which is twice the combined contribution of all other developing regions.†The Bank’s Deputy Governor for East Asia and the Pacific “The drop in oil prices will stimulate domestic demand in most countries in the region and also provide an opportunity to advance fiscal reforms. These reforms can improve the competitiveness of East Asia and help the region to maintain the world economy,†Kossel von Tolsenberg said. Growth engine status."
In 2014, China's economic growth slowed to 7.4%, 2.3 percentage points lower than the average growth rate over the past 30 years. Against this background, the World Bank’s expectations of China’s economic growth have also continued to slow. In April last year, the World Bank had predicted that China's economic growth rate in 2015 will reach 7.5%, and then lowered to 7.2% in October last year.
Although the predicted value of China’s economic growth was lowered again, the World Bank’s forecasted value is still higher than the 7% growth target set by China at the beginning of the year. The World Bank stressed in its report that as the growth model shifts from investment-driven to consumer-led, the main challenge for China is to implement reforms that are conducive to ensuring long-term sustainable growth. It is suggested that China's policy of promoting growth should focus on supporting structural restructuring.
Sudir Shetty, chief Asia Pacific chief economist of the World Bank, said that although there is a risk of slowdown in China's economic growth, there will be no sharp drop in the growth rate, and the overall economic development in China is still optimistic.
Looking around East Asia and the Pacific, the World Bank report points out that the economic growth of developing countries in East Asia and the Pacific region will slow down slightly this year. The latest World Bank forecast shows that developing economies in East Asia are forecast to increase by 6.7% in 2015 and 2016, which is a slight decrease from 6.9% in 2014.
“Although the growth in East Asia has slightly slowed down, the region’s contribution to global growth has still reached one-third, which is twice the combined contribution of all other developing regions.†The Bank’s Deputy Governor for East Asia and the Pacific “The drop in oil prices will stimulate domestic demand in most countries in the region and also provide an opportunity to advance fiscal reforms. These reforms can improve the competitiveness of East Asia and help the region to maintain the world economy,†Kossel von Tolsenberg said. Growth engine status."
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