China’s economic growth will only reach the lower end of its own projections and its slowdown risks weighing on the rest of Asia, according to a report from the Asian Development Bank.
The ADB’s flagship Asia Development Outlook 2016 forecast that China’s economy would grow at 6.5 per cent this year and 6.3 per cent next year, compared with Beijing’s expectations of between 6.5 and 7 per cent for 2016 and an average of 6.5 per cent over the next five years.
The slowdown in the region’s biggest economy has knocked as much as 0.3 percentage points off the outlook for developing Asian economies because of the region’s trade and supply chain links, the ADB said.
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