Tuesday, 3 January 2017

China's economy could grow 6.5 percent in 2017; devaluation could stabilize yuan

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China's economic growth could slow to 6.5 percent this year from about 6.7 percent in 2016, a government-run think tank said on Tuesday, while suggesting a one-off devaluation could help stabilize the yuan currency. The forecasting department at State Information Center (SIC) said momentum from new technology would continue to stimulate economic growth but could not stop the broader slowing trend. Industrial output could grow 5.9 percent this year, down from an estimated 6.1 percent in 2016.

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