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Friday, September 11, 2015, 22:36

China's economic growth more sustainable: Credit Suisse

By Xinhua

GENEVA - China's economy, despite the recent turbulence, is still likely to continue expanding at a much faster pace than most of the other countries in the world, the second largest bank of Switzerland, Credit Suisse, announced in its newly published report.

In the report published by the bank's Global Equity and Credit Research Center and Economic Research Center, economists estimate that China's recent growth slowdown arguably owes in part to actions undertaken to increase the country's financial stability, but those measures in turn should make China's economic growth more sustainable.

According to the report, China solidified its standing as the world's second-largest economy, a status that it quickly attained on the back of annual GDP growth rates above 10 percent.

However, since the double-digit growth rates of the 2000s decade were propelled by an economic "supercycle", they arguably are an exaggerated yardstick for estimating the future growth trend, noted the report.

One of the main drivers of that supercycle was China's entry into the World Trade Organization (WTO) in 2001, added the report.

The report said even economic growth in China has slowed recently, the People's Bank of China is taking substantial actions to stimulate it again.

"Alongside interest-rate cuts, we also expect to see a variety of measures aimed at specific stimulus objectives", predicted the bank's analysts.

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