The World Bank estimates that China will meet economic growth target of 7.6% in 2014. Targets China as long as it can be achieved while maintaining fiscal and financial sector reforms to tackle debt.
"The prospect of growth falling below the government's target that is likely to lead to fiscal and monetary policy accommodative. Steps that will help the government to achieve growth of around 7.5% in 2014. However fragile economy is unbalanced," the World Bank report related to the Chinese economy, CNBC quoted on Friday (06/06/2014).
The World Bank estimates that the economy grew 7.6% in 2014, supported by government policies and the global economic recovery. However, China's economy will pertumcbuhan slowed to 7.5% in 2015.
According to the World Bank, the momentum of China's economy grew faster in the second quarter of 2014. However, based on a Reuters poll for a number of economists, the growth of gross domestic product (GDP) slowed to an annual 7.3% in the second quarter of 2014. 7 China's economic growth projected , 3% in 2014. figure was the weakest in 24 years, and under the government's target of 7.5%.
The new leadership in China also supports economic growth slowed. This was done to steer the economy towards domestic consumption and increase exports.
"A rebalancing growth from investment to consumption, and from industry to services continues, but there are challenges," the World Bank said.
World Bank senior economist, Karlis Smits said, there are signs the government sets a lower growth in 2015. This was done to help reduce economic imbalances. But it did not elaborate on it.
In addition, the World Bank urged China to speed up reform of the fiscal and financial sector to deal with debt problems. "The delay in implementing the reform can perpetuate the misallocation of resources, damaging the health of the banking system, and increase the cost of fiscal reforms," the World Bank said.
Meanwhile, the International Monetary Fund (IMF) said China's economic growth reached 7.5% in 2014. Then China's economic growth will slow to 7% in 2015
"The prospect of growth falling below the government's target that is likely to lead to fiscal and monetary policy accommodative. Steps that will help the government to achieve growth of around 7.5% in 2014. However fragile economy is unbalanced," the World Bank report related to the Chinese economy, CNBC quoted on Friday (06/06/2014).
The World Bank estimates that the economy grew 7.6% in 2014, supported by government policies and the global economic recovery. However, China's economy will pertumcbuhan slowed to 7.5% in 2015.
According to the World Bank, the momentum of China's economy grew faster in the second quarter of 2014. However, based on a Reuters poll for a number of economists, the growth of gross domestic product (GDP) slowed to an annual 7.3% in the second quarter of 2014. 7 China's economic growth projected , 3% in 2014. figure was the weakest in 24 years, and under the government's target of 7.5%.
The new leadership in China also supports economic growth slowed. This was done to steer the economy towards domestic consumption and increase exports.
"A rebalancing growth from investment to consumption, and from industry to services continues, but there are challenges," the World Bank said.
World Bank senior economist, Karlis Smits said, there are signs the government sets a lower growth in 2015. This was done to help reduce economic imbalances. But it did not elaborate on it.
In addition, the World Bank urged China to speed up reform of the fiscal and financial sector to deal with debt problems. "The delay in implementing the reform can perpetuate the misallocation of resources, damaging the health of the banking system, and increase the cost of fiscal reforms," the World Bank said.
Meanwhile, the International Monetary Fund (IMF) said China's economic growth reached 7.5% in 2014. Then China's economic growth will slow to 7% in 2015