The National Bureau of Statistics is scheduled to release blockbuster data on 2016 gross domestic product today. According to the official forecast, China's economic aggregate will exceed 70 trillion yuan in 2016. It is estimated that the annual GDP growth rate will be around 6.7%, and the economy will continue to operate within the proper range.

 

China's economic report card for 2016 is released today

 

China's GDP grew 6.7 percent year-on-year in the first three quarters of 2016, including 6.7 percent growth in the first, second and third quarters, according to the National Bureau of Statistics. How the annual economic growth "report card" in 2016 is attracting much attention.

 

As for the economic growth rate in 2016, Chinanews.com reporter noted that the market generally expects the growth rate to be around 6.7%. According to the 2017 Economic Blue Book released by the Chinese Academy of Social Sciences, employment and prices will remain basically stable in 2016, and China's economy will achieve the economic growth target set at the beginning of the year, which is estimated to be around 6.7 percent.

 

Xu Shaoshi, director of the National Development and Reform Commission, also revealed at the recent press conference of the State Information Office that the supply-side structural reform in 2016 has been advanced in an orderly way, and the key tasks of "three cuts, one reduction and one reinforcement" have achieved initial results. GDP growth was 6.7% in the first quarter, second quarter and third quarter, and is expected to be around 6.7% for the whole year.

 

In terms of economic size, China's economy is likely to take it to a new level, passing the 70 trillion yuan mark. Xu predicted that China's total economic output in 2016 will exceed 70 trillion yuan, with an increase of about 5 trillion yuan, which is basically the same as the 10 percent annual growth rate five years ago. It is equivalent to China's total economic output in 1994, and is also a prominent performance among major economies in the world.

 

At present, part of the 2016 full year data has been disclosed. Statistics show that more than 13 million new urban jobs have been created. The consumer price index (CPI) rose by 2.0 percent, meeting the full-year price control target of around 3 percent. Imports and exports have been stabilizing quarter by quarter, and both imports and exports have achieved positive growth in the fourth quarter.

 

Peking University school of economics professor he-ping cao on Saturday (WeChat public number: cns2012) reporter said, "black swan" events appear constantly in 2016, but since the fourth quarter of China's economic indicators rebounded, is expected in the fourth quarter economic growth is not less than 6.7%, economic goals can finish all the year round, which means "much starker choices-and graver consequences-in" will have a good start.

 

China's economy is expected to continue to operate steadily in 2017

 

As for the trend of the Chinese economy in 2017, the analysis believes that there are many uncertainties in the environment facing the Chinese economy in 2017, but it is still expected to maintain the situation of seek improvement in stability, and there will not be a "hard landing".

 

Xu Shaoshi pointed out that the internal and external environment for economic development in 2017 is still complex and severe. On the whole, the world economy is slowly recovering, but uncertainties and unstable factors are obviously on the rise. Although the domestic economy has been stable and improving, it still faces some serious problems and problems.

 

"However, China has the confidence, conditions and ability to ensure that the economy operates within a reasonable range." Xu Shaoshi said that the outside world said that China's economy will decline in a "collapse pattern" and a "hard landing" is inevitable, but these predictions and predictions will come to nothing.

 

"The potential growth capacity of the Chinese economy is still very large. What is important is to improve the quality of growth." Lian Ping, chief economist with the Bank of Communications, said China's economy is expected to grow by more than 6.5 percent in 2017 if external demand improves, the real estate market operates smoothly and private investment picks up.

 

Cao Heping believes that in the first half of 2017, China's economy is still likely to continue the stable and positive trend since the fourth quarter. This year, China needs to further advance the supply-side structural reform, with the focus on preventing financial and other risks. At the same time, we will take measures such as tax cuts to boost the real economy and continue to enhance the stability of economic performance.

 

At present, some international institutions are also optimistic about the future trend of the Chinese economy. China's economy recorded steady growth in 2016, easing fears of a sharp slowdown in growth in the short term, according to the UN's World Economic Situation and Prospects 2017. China's economy is expected to grow 6.5 percent annually in 2017 and 2018, driven by solid domestic demand and supportive fiscal measures.