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- The People's Bank of China’s working paper: the Chinese economy is expected to expand 6.9% this year and 6.8% next year
The People's Bank of China’s working paper: the Chinese economy is expected to expand 6.9% this year and 6.8% next year
The People's Bank of China (PBoC) said in a working paper on Wednesday that it expects the Chinese economy to expand 6.9% this year and 6.8% next year.
The central bank noted that industrial overcapacity, weak demand for Chinese goods and rising non-performing loans from banks weigh on the Chinese economy.
Inflation is expected to be 1.5% year-on-year in 2015, exports are expected to drop 2.9% this year from a year earlier, while imports are expected to slide 14.8%.
According to the working paper, the governments' stimulus measures should take effect from the fourth quarter of 2015 to the first half of 2016.
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