China's economy likely to grow 6.6%

China's economy is expected, as per the China Academy of Social Sciences, to grow around 6.6% this year, but it will need policy support to be able to manage the current and upcoming downside pressures that arise.

China's growth might range between 6.6% and 6.8%

One of China's top government reported, in Shanghai Securities Journal newspaper today, that the nation is under bearish pressures but expecting that the growth could be within the range of 6.6% and 6.8%.

According to CASS predictions, the declination in producer prices will likely slow while the consumer price inflation (CPI) could rise 2% this year.

During the first five months of the year, inflation was at 2.1%, with money supply growth likely slowing, and retail spending resuming stable.

Moreover, China will be restructuring the second half of the year, clean up weak firms, optimize leverage levels, and deepen economic reform.

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