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- CASS: China's GDP will grow this year by 6.6%
CASS: China's GDP will grow this year by 6.6%
According to estimates from the Chinese Academy of Social Sciences (CASS), at the end of this year, China's economy will expand by 6.6%, but in the second half of the year the economy will need to rely on the support of monetary policy to counter the downward pressure. Recall that in May CASS analysts had forecast GDP growth of 6.6% to 6.8% this year.
"Consumer price inflation is likely to increase by 2% y/y, while the decline in producer prices slowed down. According to our calculations, in the first five months of this year inflation will rose to 2.1 percent, costs will be stable, but money supply growth will slow down in investment in fixed assets and real estate. " CASS also said that China should deepen economic reforms and restructuring, optimize the leverage levels.
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