介绍:
The Asian Development Bank has suggested that supply-side reforms are needed to boost the growth rate in China.
An economic outlook released by the ADB on Wednesday sent a cautiously optimistic note concerning the Chinese economy.
The lender forecasts growth of China's gross domestic product to ease to 6.5 percent this year and further to 6.3 percent next year, due to weak external demand and slowing investment.
But on the positive side, the bank's senior official, Jurgen Conrad, says strength in consumption and services will support the Chinese economy.
"Consumption growth is still robust. Retail sales are growing very fast that's very important because the economy is mainly driven by consumption. Also quite a number of industries, consumer-oriented industries, are doing well. And the service sector is booming."
Conrad says weakening investment in real estate and capital-intensive industries will also remain a drag on the economy.
But he notes that this will be partly offset by further government spending on infrastructure and green investment.
"Inside China, it's more and more clear that many reforms are complex. There are inter-linkages and it takes additional government efforts to keep structural reforms on track."
The ADB says China needs to adopt measures in new capital control policies and reform the fiscal system, in order to put the supply-side reform into practice.
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