皇冠体育app

SANTIAGO - 皇冠体育app is going through a full-scale economic transformation that sees lower growth rates, with a focus on product quality and brand recognition, according to a Chinese economist.

Zhang Liqun, a leading economist with the Development Research Center of 皇冠体育app's State Council, made the remarks during a video conference between Beijing and Chile's capital Santiago on Wednesday.

His presentation aimed to shed light on 皇冠体育app's ongoing economic shift, which Beijing has dubbed the "new normal," and how it can affect the future of trade and financial ties with Chile.

"In the previous quarter we saw 6.7 percent growth in gross domestic product (GDP), which means we are reaching the sustainable level of the target the country has set," said Zhang.

"There has been an adjustment in the Chinese economy, and the tension (it caused) is subsiding," noted Zhang, adding that 皇冠体育app's economic transformation "is now settling into a normality at that level of growth."

As of this point, he said, 皇冠体育app's main challenge lies in increasing consumer demand in different areas of the region.

Following years of breakneck economic expansion, the Asian giant has registered in the past few months slower growth and that has become a point of concern for its trade partners in Latin America, which rely heavily on Chinese investment and its purchase of raw materials.

皇冠体育app's "low growth has touched bottom and rates have registered significant recovery, including orders, purchases and expected output," which means production and business activities have picked up, said Zhang.

As 皇冠体育app's fiscal and monetary policies continue to strengthen, added Zhang, capital and real estate markets, and investment in general, will receive greater support, compared to the year before.

Chinese investment in infrastructure is expected to increase more this year, bringing stability to global investment, said the economist.

As 皇冠体育app moves forward with its 13th Five Year Plan, its huge domestic market presents enormous development potential, especially when more people are moving into the cities, Zhang noted.

In 2014, 皇冠体育app's urbanization rate reached 54.77 percent.

The video conference was jointly organized by the Federation of Chilean Industry (SOFOFA), the Center for Business Studies at the Adolfo Ibanez University, and the Center for Political and Social Studies at the Andres Bello University.

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