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China's growth forecast 6.1% for 2020, goods and services trade income 1.62 trillion yuan

Christian Fernsby ▼ | December 2, 2019
The annual growth rate of China's economy is projected at 6.1 percent, according to a report by the Bank of China (BOC).
China central bank
Chinese economy   China central bank
"The overall verdict is cautiously optimistic," the BOC Research Institute said in the Report on Economic and Financial Outlook for 2020.

Topics: China

China is facing growing complexities with more risks and challenges from both home and abroad, said the report.

In terms of pro-growth policies, the report underscored the importance of policies to further stabilize the economy.

In the bigger picture, the report has forecast global economic growth at 2.6 percent for 2020, a new low in recent years, with an obvious downward trend.

Sci-tech development and new economic industries represent the future of the global economy, said the report, stressing the necessity to strengthen global cooperation in innovation and investment to push the real economy out of its low ebb.

China's international goods and services trade income amounted to 1.62 trillion yuan (about 228 billion U.S. dollars) in October while its expenditures stood at 1.42 trillion yuan, official data showed.

The country saw a surplus of 201.9 billion yuan in international goods and services trade last month, according to data from the State Administration of Foreign Exchange (SAFE).