China Intends to Keep Its GDP Growth Within Reasonable Range in 2019

Forex News

The Chinese government aims to support economic growth within a reasonable range next year. The government recently adopted a series of measures and intends to continue to support economic growth. The measures included a reduction in mandatory reserves for banks, tax cuts and an increase in infrastructure spending to prevent a sharp slowdown in the economy.

China will support jobs, trade and investment while pushing reforms and curbing risks. "We will promote steady growth, promote reform, adjust structure, benefit people's livelihood and prevent risks in a coordinated way, and keep economic operation in a reasonable range," the official news agency Xinhua reported, citing a politburo meeting chaired by President Xi Jinping.

China's GDP growth slowed to 6.5% in the third quarter, the weakest since the global financial crisis. Meanwhile, the full-year expansion could slightly exceed the government's target of around 6.5%. Some economists predict that next year’s economic growth may be in the range of 6.3%-6.5%.