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China can achieve 7% growth in 2015: economist

Updated: Aug 26,2015 3:41 PM     Xinhua

BEIJING — The 2015 growth target of around 7 percent is achievable, an economist said on Aug 26, as China’s economic fundamentals are sound and the global economy shows signs of improvement.

Favorable conditions include huge domestic demand, the expanding services industry and a government determined to deliver on its reform promises, according to Zhu Baoliang, an economist with government think tank the State Information Center.

Exports in the second half of the year are expected to outperform the January-June period as the United States, Japan and the eurozone “come from the cold”, Zhu said.

A traditional economic driver, China’s exports grew 0.9 percent year on year in the first six months.

Zhu expects the inflation rate in the second half of the year to be no more than 2 percent, citing rising pork prices. It grew 1.3 percent in the first six months.

The government’s annual inflation rate target is around 3 percent.