China’s GDP growth rate to make 6.5% for the end of 2016, economists forecast

Almaty. August 10. Silkroadnews – At the end of this year China’s economic growth is expected to make 6.5% at least, one of Chinese publications writes.

“Since 2010 the economic slowdown has been observed not only in China, but also in a number of other countries”, well-known Chinese economist Justin Yifu Lin said.

According to him, at present the Chinese economy is influenced by external environment and transformation processes within the Chinese economy.

“We have the state-owned companies dominating, which hinders the effective operation of market mechanisms. So far the issues of low levels of consumption and overproduction in some economies of other countries remain unresolved”, the economist said.

At the same time, Justin Yifu Lin believes that now China enters a period of sustainable economic growth.

“In case the government manages to carry out a reform of supply and demand, the GDP growth will make 6.5% for both this year and 13th five-year plan (2016-2020)”, he summarized.

According to the National Bureau of Statistics of China, in 2015 China’s GDP growth rate reached the lowest since 1990 6.9%.