ZCZC
BCN-18
CHINA-ECONOMY-GROWTH
China growth could drop below 6% this quarter: govt adviser
BEIJING, Nov 28, 2019 (BSS/AFP) – China’s growth could drop below six
percent in the current quarter as the local economy dealt with its “biggest
difficulties and challenges ever”, a senior government adviser said
Wednesday.
China posted its worst economic performance for 27 years in the last
quarter on the back of a bruising trade war with Washington, and negotiators
have yet to reach a deal to end the tussle between the world’s top two
economies that has rattled global markets.
“This year, China’s economy has faced the biggest difficulties and
challenges ever,” said Yao Jingyuan, special research fellow for the State
Council — China’s cabinet.
“We shouldn’t exclude the possibility of being below six percent growth in
the fourth quarter of this year and even next year,” he told reporters.
The government had fixed a growth target of between 6 and 6.5 percent for
2019.
Hopes for an end to the trade war rose after US President Donald Trump
said Tuesday that negotiators were “in the final throes of a very important
deal”.
Yao said the government had been able to stabilise employment, the
financial sector, trade and foreign investment despite the spat with
Washington.
BSS/AFP/HR/1110