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China’s economic outlook for 2017

Updated: Dec 20,2016 4:19 PM

China’s top think tank published its Economic Blue Book in Beijing on Dec 19. The book from the China Academy of Social Sciences suggests that the government should implement property and inheritance taxes next year.

The 2017 Economic Blue Book also says that China’s economy will grow around 6.5 percent in 2017.

The book says that China’s economy will expand 6.5 percent in the first and second quarters, and 6.4 percent in the third and fourth quarters of 2017.

The CASS GDP forecast comes after China’s top leaders vowed during a key meeting last week to keep China on a path of stable and healthy growth in 2017.

CASS said that among the challenges will be stemming capital outflows amid a depreciating yuan. The yuan has fallen more than 6 percent against the dollar this year and is forecast to depreciate another 3 to 5 percent in 2017.

CASS also forecast inflation of 2.2 percent in 2017 and expects producer prices to rise 1.6 percent.