Home Economy China risks slower growth without more market competition – U.S. study

China risks slower growth without more market competition – U.S. study

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BEIJING (Reuters) – China risks slower growth if it does not do enough to spur market competition by allowing the private sector to play a bigger role in the economy and greater two-way flow in cross-border investments, a report showed on Tuesday.

FILE PHOTO: Buildings in the Central Business District (CBD) are seen lit up during the night in Beijing, China April 15, 2021. Picture taken April 15, 2021. REUTERS/Tingshu Wang

“Without a market-oriented shift, China will struggle to maintain a growth potential that exceeds 3% annually by the middle of this decade,” according to a report released by U.S. think tank the Atlantic Council and consultancy Rhodium Group.

China’s economic growth has gradually eased from 2011 to 2020, expanding in the single-digits compared with the relatively big gains in the years just after it joined the World Trade Organization in late 2001. China has set a target to grow its economy by at least 6% in 2021 after it managed…

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