BEIJING, Nov 27 — China’s growth could drop below six per cent in the current quarter as the local economy dealt with its “biggest difficulties and challenges ever”, a senior government adviser said today.
China posted its worst economic performance for 27 years in the last quarter on the back of a bruising trade war with Washington, and negotiators have yet to reach a deal to end the tussle between the world’s top two economies that has rattled global markets.
“This year, China’s economy has faced the biggest difficulties and challenges ever,” said Yao Jingyuan, special research fellow for the State Council — China’s cabinet.
“We shouldn’t exclude the possibility of being below six per cent growth in the fourth quarter of this year and even next year,” he told reporters.
The government had fixed a growth target of between 6 and 6.5 per cent for 2019.
Hopes for an end to the trade war rose after US President Donald Trump said yesterday that negotiators were “in the final throes of a very important deal”.
Yao said the government had been able to stabilise employment, the financial sector, trade and foreign investment despite the spat with Washington. — AFP
