Report predicts 6.6 percent domestic growth in 2017

The Chinese economy is predicted to grow by about 6.6 percent this year, according to the Analysis on the Prospects of China’s Economy (2017) released at a news conference hosted by the Chinese Academy of Social Sciences (CASS) in conjunction with the Academic Division of Economics and the Institute of Quantitative and Technical Economics at CASS as well as the Social Sciences Academic Press. It is above the target of 6.5 percent set at the beginning of this year and within the range of 6.5 percent to 7 percent that China adopted in 2016. In the context of profound adjustments to the global economy, anti-globalization trends and increasing global uncertainty, the Chinese economy will grow steadily and continue to improve in structure, while its employment will remain stable in 2017. Scholars suggested actively implementing positive fiscal policy and moderately enlarging financial deficit while regulating and controlling monetary aggregates to prevent liquidity risks.