According to the schedule, the National Bureau of Statistics will release heavyweight data such as 2016 Gross Domestic Product (GDP) today. According to official forecasts, the total economic output of China will exceed 70 trillion yuan in 2016, with an expected annual GDP growth rate of around 6.7%, indicating that the economy will continue to operate within a reasonable range.

The 2016 China Economic Transcript is Now Revealed

According to data from the National Bureau of Statistics, the GDP in the first three quarters of 2016 increased by 6.7% year-on-year, with an average increase of 6.7% in the first, second, and third quarters. The performance report of economic growth for the whole year of 2016 has attracted much attention.

Regarding the economic growth rate in 2016, a reporter from China News Network noticed that the market generally expects the growth rate to be around 6.7%. Among them, the 2017 Economic Blue Book released by the Chinese Academy of Social Sciences believes that in 2016, employment and prices remained basically stable, and the Chinese economy can achieve the expected economic growth target at the beginning of the year, with an expected annual growth rate of about 6.7%.

Xu Shaoshi, Director of the National Development and Reform Commission, recently revealed at the press conference of the State Council Information Office that the supply side structural reform in 2016 has been orderly promoted, and the key tasks of "three reductions, one reduction, and one supplement" have achieved initial results. The GDP growth rate in the first, second, and third quarters was all 6.7%, and it is expected to be around 6.7% for the whole year.

In terms of total economic output, the Chinese economy is likely to reach a new level, crossing the 70 trillion yuan mark. Xu Shaoshi predicts that the total economic output will exceed 70 trillion yuan in 2016, with an increase of approximately 5 trillion yuan. This increase is basically equivalent to the 10% increase in growth five years ago, equivalent to China's total economic output in 1994, and it is also outstanding among major global economies.

At present, some data for the entire year of 2016 has been disclosed. The data shows that urban new employment has exceeded 13 million; The annual Consumer Price Index (CPI) increased by 2.0%, achieving the annual price control target of around 3%. Import and export have stabilized quarter by quarter, with both imports and exports achieving positive growth in the fourth quarter.

Cao Heping, a professor of the School of Economics of Peking University, told the reporter of Zhongxin Network (WeChat official account: cns2012) that the "black swan" incident in 2016 continued to occur, but since the fourth quarter, many indicators of China's economy have rebounded. It is expected that the economic growth rate in the fourth quarter will not be lower than 6.7%, and the annual economic goals can be well achieved, which also means that the "13th Five Year Plan" will usher in a good start.

The Chinese economy is expected to continue stable operation in 2017

For the 2017 trend of the Chinese economy, analysis suggests that there are many uncertainties in the environment that the Chinese economy will face, but it is still expected to maintain a stable and progressive trend, and there will be no "hard landing".

Xu Shaoshi pointed out that the internal and external environment faced by economic development in 2017 remains complex and severe. Overall, the world economy is slowly recovering, but uncertain and unstable factors have significantly increased. Although the domestic economy is gradually stabilizing and steadily improving, it still faces some prominent contradictions 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 the Chinese economy's "collapse mode" of decline and "hard landing" are inevitable, and these predictions and predictions will fall through.

"The potential growth capacity of the Chinese economy is still very large, and the important thing is to improve the quality of growth." Lian Ping, Chief Economist of Bank of Communications, said that if the external demand environment improves in 2017, the real estate market operates smoothly, and private investment rebounds, it is expected that the growth rate of the Chinese economy will be higher than 6.5% in 2017.

Cao Heping believes that in the first half of 2017, the Chinese economy may continue the stable and positive trend since the fourth quarter. This year, China needs to further promote supply side structural reform, focusing on preventing various risks such as finance. At the same time, efforts should be made to boost the real economy and continue to improve the stability of economic operation through measures such as tax reduction and load reduction.

Currently, some international institutions are also optimistic about the future trend of China's economy. According to the 2017 World Economic Situation and Outlook released by the United Nations, China's economy showed stable growth in 2016, easing concerns about a sharp slowdown in its growth in the short term. Driven by robust domestic demand and supportive fiscal measures, the Chinese economy is expected to grow by 6.5% annually in 2017 and 2018.