China’s growth may slow to about 6.5% in 2017, an annual report by the country’s top government think tank forecast, dismissing concerns about a hard landing but warning of a potential “regional financial crisis” as debts pile up. According to Caixin, the world’s second-largest economy is widely expected to grow by 6.7% this year. Expansion is predicted to slip to around 6.5% due to sustained weakness in foreign demand, the declining ability of investment to drive growth, and a slowing in consumption increase, the Chinese Academy of Social Sciences (CASS) said in its 2017 Economy Blue Book, which was released Monday. However, “employment and prices will be maintained at a generally stable level and the Chinese economy will not have a hard landing,” the report said.
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