Nordic banks: China's growth starting to seep

China's GNP will decrease annually going forward, according to the major Nordic shipping banks. They anticipate a growth in the range of 6.5 to 7.0 pct. in 2016, but the country's role as economic growth engine remains intact.

Shanghai | Photo: Georg Hammerstein/POLFOTO/ARKIV

The Chinese growth might be struggling to maintain the pace seen in recent years, from towering rates of 10 percent to this year where the growth rate will likely finish at around 7.5 percent. And several of the major - and shipping-heavy - Nordic banks expect the overall growth to continue in the same vein through 2015 and 2016, without this development necessarily resulting in dramatic consequnces.

At Nordea, senior analyst Amy Yuan Zhuang, who specializes in Asian economies and China in particular, points out that the Chinese government has no plans of abandoning its growth target.

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