China's economy to face difficulties in H2

By Wang Yanlin | July 27, 2015, Monday |

Online Edition

CHINA'S economy will face difficulties in the second half of the year and the outlook is not that rosy, according to a latest report by the Shanghai University of Finance and Economics.

"Risks coming from both external and internal markets will increase in the rest of the year," said Huang Xiaodong, a specially appointed economics professor at the university's Institute of Advanced Research who anchored the report. He is also a professor at Vanderbilt University in the United States and a former economist at the Federal Reserve.

"We are not optimistic that China can fulfill the target of a 7-percent growth for the whole year, considering the risks of growing deflationary pressures, local government debt, capital market rout, corrections in the housing sector, failure to get international deals paid, volatility in exchange rate and flee of foreign capital," Huang said.

Even in the best scenario that China successfully pushes forward its "One Belt One Road" initiative to boost cooperation with neighboring and other emerging countries, while no systemic risks materialize, China's growth is expected to be around 6.8 percent for this year, according to the report.

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China's economy to face difficulties in H2

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