China econ survey: What are drivers for future economy？

Today is the second day to share the results of Global Business' survey of hot economic topics. More than 20 economists from across greater CHINA shared their opinions on the domestic economy, including GDP growth and the drivers of development in 2019.

Most of the 24 economists and experts estimated that CHINA's GDP growth would slow to around 6.3 percent in 2019. Some of them warned that the government should pay attention to manufacturing sector bubbles while dealing with the uncertainties and pressure brought on by the trade friction between CHINA and the United States.

CHINA's GDP growth in 2019. /Source: CGTN Global Business economists' survey

Considering the circumstances, the experts were asked to list three main ways to boost CHINA's economy in 2019. Fiscal stimulus, consumption and monetary stimulus ranked as the top three factors that would impact development. Participants also said that accelerating growth in the technology sector and making new trade deals or cooperating with new trade partners would be helpful.

How to boost CHINA's economy? /Source: CGTN Global Business economists' survey 

In terms of the 2019 inflation rate, estimates ranged from 1.5 percent to as high as over three percent. Some economists believe that the number would be quite stable despite external risks.

Inflation rate in 2019. /Source: CGTN Global Business economists' survey

Last but not least, most of the participants estimated that CHINA's fiscal deficit would expand in 2019. Chinese Premier Li Keqiangannounced on Tuesday that the deficit would be about 2.8 percent this year, up 0.2 percentage points from 2018. However, about 75 percent of those surveyed indicated that the number may exceed government expectations.

CHINA's fiscal deficit in 2019. /Source: CGTN Global Business economists' survey