China’s GDP growth won’t drop below 6% in 2020 and will hit 6.1% this year, wrote Sheng Songcheng, a former director of the statistics and analysis department at the country’s central bank in an article in local media.
He said that whether China’d maintain 6% is no longer a valid questions as the Chinese economy has bottomed out.
He argued that consumption, investment and trade are expected to recover while the economy has shown some signs of improvement.
Sheng added that the country’s current reform measures and technological advancement should create huge growth potential.
Sheng's upbeat predictions are in contrasts to forecasts by IMF and other organisations.
IMF said in October that China’s GDP growth will hit 5.8% in 2020.
According to Bloomberg surveys, the median forecast for the country’s 2020 GDP growth is 5.9%.
Morningstar said in October that China only managed to grow its Q3 GDP by 3%— instead of the officially announced 6%—because of its collapsed internal consumer demand.
