China's economic growth is likely to touch the bottom and recover to 6.8 percent in 2016, said Li Daokui, director at of the Center for China in the World Economy (CCWE) at Tsinghua University. Li said at the 26th quarterly forum of the CCWE that domestic consumption in China has started to recover in the second quarter of 2015 from around 10 percent to 11.2 percent. He expected the trend will continue in 2016 and help drive up overall China's economy.
Li estimated China's domestic consumption grew 10.7 percent in 2015 and the growth rate would reach 11 percent in 2016. As China's efforts to reduce production capacity and inventory gradually take effect, real estate investment is expected to bottom up.
Moreover, stabilized commodity prices and recover in major world's economies would help stable China's export. China's fixed-assets investment may stand at 10 percent in 2016, taking predictions of investment in infrastructure, manufacturing industry and real estate into consideration, said Li.
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