Economics
World Bank Sees China Growth Moderating as Deleveraging Bites
- Bank sees China growth slowing to 6.4% in 2018, 6.3% in 2019
- Rebalancing of investment and consumption is making progress
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China’s economic growth will moderate in the next two years as policies to reduce leverage gradually take hold, according to the World Bank.
Growth in the world’s second largest economy will slow to 6.4 percent in 2018 and 6.3 percent in 2019 from 6.8 percent this year, the organization said in a quarterly report. The nation is also making progress this year in its economic re-balancing, as investment’s contribution to output growth declined amid the rising importance of consumption, according to the bank.