China 's annual economic growth is likely to slow to 6.9% in 2016 from an expected 6.9% this year , the People's Bank of China (PBOC) reported in a working paper 2016 . It cites the combined impact of China ’s fiscal and monetary policies introduced yesterday and recent downward pressure on the economy due to overcapacity, profit deceleration, rising non-performing loans and appreciation in the REER ’s real effective exchange rate ( REER ) inhibiting exports, as the main factors affecting the country’s economic growth. Nevertheless, significant growth in China ’s domestic consumption is expected as retail sales are predicted to grow an annual 11.1% in 2016 , whilst exports are projected to rise an annual 3.1% and imports are to forecast to grow 2.3% , according to the PBOC.
China's annual economic growth is likely to slow to 6.8% in 2016 from an expected 6.9% this year, the People's Bank of China (PBOC) reported in a working paper yesterday. It cites the combined impact of China’s fiscal and monetary policies introduced this year and recent downward pressure on the economy due to overcapacity, profit deceleration, rising non-performing loans and appreciation in the CNY’s real effective exchange rate (REER) inhibiting exports, as the main factors affecting the country’s economic growth. Nevertheless, significant growth in China’s domestic consumption is expected as retail sales are predicted to grow an annual 11.1% in 2016, whilst exports are projected to rise an annual 3.1% and imports are to forecast to grow 2.3%, according to the PBOC.