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ADB head sees China resuming moderate growth next year

ADB head sees China resuming moderate growth next year

Asian Development Bank President-elect Masatsugu Asakawa speaks during an interview with Reuters in Tokyo, Japan, November 29, 2019. Picture taken on November 29, 2019.REUTERS/Kim Kyung-Hoon/Files

TOKYO : China is likely to resume moderate growth from 2022, Asian Development Bank President Masatsugu Asakawa said on Tuesday, adding that mounting debt and structural woes were likely to weigh on its economy.

"From 2022 onward, China will tread a moderate long-term growth trend. It won't return to the 7-8per cent pace of expansion seen during its high-growth period," Asakawa told a news conference.

(Reporting by Leika Kihara; Editing by Ritsuko Ando)

Source: Reuters

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