The Chief Economist of China’s central bank led a number of officials from the bank in writing a research report predicting that China’s economy will continue to slow down for the rest of 2015.
According to the report, in the first four months of 2015, industrial output continued to drop, while the downward pressure on the economy has been increasing. The report observed three new changes in China’s economy. Export growth has decreased significantly; real estate and manufacturing investment are slowing down faster than expected; and banks are now facing the problem of there being an insufficient demand for loans.
The report adjusted its prediction for 2015 GDP growth downward from 7.1 percent to 7 percent.
Source: ifeng.com, June 10, 2015