China’s economic growth will likely slow to 6.5-6.8 percent this year, a senior official at the country’s top economic planner wrote in the Beijing Daily on Monday, while warning about the risks of “Black Swan” and “Gray Rhino” events.
Black swans, or unforeseen occurrences, and gray rhinos, or highly obvious yet ignored threats, are likely to occur this year with adverse consequences, Fan Hengshan, vice secretary general of the National Development and Reform Commission (NDRC), wrote in a commentary in the state-controlled newspaper.
China’s economy grew 6.9 percent in 2017, the first annual acceleration since 2010. That pace easily beat the government’s 2017 target of around 6.5 percent, welcome news for policymakers looking to curb financial risks and cut corporate debt.
