The transition of China’s economy will become an important driver of world economic growth, according to Chi Fulin, director of the China Institute for Reform and Development.
Addressing the China reform forum that opened on Oct 29, Chi said the contribution of China to the world economy will remain around 30 percent for the next five years.
He predicted that in the next few years, the global economy will grow slowly while seeking a new balance, bringing impact on the transition of China’s economy.
On the other hand, as the second largest economy, China’s economic transition and growth is increasingly influencing the world economy. “It is estimated that the contribution of China’s economic growth to the world economy is expected to maintain at 25 to 30 percent, he said.