The World bank said the regional outlook in Asia reflected China’s gradual shift to slower, more sustainable growth, expected at 6.7 percent this year and 6.5 percent in 2017 and 2018, from 6.9 percent in 2015.
China is in the midst of reforms as it moves to make domestic consumption a key economic growth driver instead of exports and as manufacturing gives way to services taking on a bigger role in the economy.
“Continued implementation of reforms should support the continued rebalancing of domestic demand,” it said on Chinese economy..
“In particular, growth in investment and industrial output will moderate, reflecting measures to contain local government debt, reduce excess industrial capacity and reorient fiscal stimulus toward social sectors.”
--Agence France-Presse on April 11