Even Better Positive Outlook of China in 2017

China is forecasted to exceed the annual growth of around 6.5 percent in the current year, according to the chief economic planner. Additionally, the head of the National Development and Reform Commission mentioned during the press conference on the sidelines of the 19th National Congress of the Communist Party of China said that the 6.5 percent target growth can be achieved and could even be surpassed.

The gross domestic product of the nation is foreseen to garner more than 80m trillion yuan or an estimated of $12.1 trillion. It grew by 6.9 percent year-on-year to 59.3 trillion yuan as seen in the previous quarters of the year and steadily accelerates by 6.9 percent. Although, it became sluggish for a bit with 6l8 percent using the third quarter.

The steadfast growth was supported by structural advancement and an optimistic forecast for the year, as he described the situation. Despite the fact that the global economy has been in a not-so-good situation as it trying to recover since 2012, the Asian country was able to keep the economic factors such as GDP, inflation, and labor sector to be in a secured condition. He also noted that around 10 million people have had a better life out of poverty every year.

On the other hand, he explained that the institutional reform is moving positively where surplus in industrial capacity and demanding for economic progress. Overall, China has the capacity and remains sanguine to attain the aspiration of becoming a “great modern socialist country by the middle of this century”.