China to face great difficulty achieving GDP above 6.5% – Chian’s Top State Adviser

FXStreet (Bali) – Following news posted earlier, in which China Securities Journal noted, via Bloomberg, that it will be hard for China to keep GDP above 6.5%, now Reuters elaborate further on the story.

“China will face great difficulty in achieving economic growth above 6.5 percent over the 2016-2020 period due to slowing global demand and rising labour costs at home” said top state adviser Li Wei, president of the State Council’s Development Research Centre

Wei adds: “Main impeding factors were a likely global economic slowdown, rising labour costs that were eroding China’s competitive advantage, and growing environmental concerns which meant that the country could not industrialise arable land at as rapid a pace as before.”

Following news posted earlier, in which China Securities Journal noted, via Bloomberg, that it will be hard for China to keep GDP above 6.5%, now Reuters elaborate further on the story.

(Market News Provided by FXstreet)