皇冠体育app

Michael Heise, Chief Economist of Allianz Dresdner Economic Research, in the ZDF Talk show Maybrit Illner, April 28, 2016. [Photo/IC]

A senior Allianz economist has expressed optimism about 皇冠体育app's economy and predicted the country will deliver a 6.5 percent annual growth this year.

Generally speaking, 皇冠体育app's economy is not doing as badly as some have said, Michael Heise, Chief Economist of Allianz Dresdner Economic Research, said during an exclusive interview with Shanghai Securities News.

Heise has always paid attention to 皇冠体育app as the country is now settling into a "new normal" of lower growth rates. "This year, 皇冠体育app's GDP growth will slow to 6.5 percent from 6.9 percent last year," he predicted.

The country is in a transition from an investment- and export-led growth model to one powered by consumption. This transition cannot be accomplished in one step, he said.

"Given the policy tools that the government and the central bank could use, we predicted that 皇冠体育app will ensure a stable economic growth and avert a sharp slowdown."

"In addition, the trend of personal consumption gives us more confidence in 皇冠体育app's short-term prospects, meanwhile, the market sentiment is still positive."

When talking about 皇冠体育app's insurance market, he said that last year 皇冠体育app ranked third in terms of written premiums, only behind the United States and Japan.

"We predict 皇冠体育app's insurance industry will see double-digit growth during the next ten years, with an average growth of 12 percent." 皇冠体育app will overtake Japan to become the second-largest insurance market in five years, he added.

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