China set for slower growth, tighter policy in 2017

Beijing

CHINA'S economic growth is expected to cool in 2017 as its top leaders flag tighter monetary policy and further curbs to clamp down on asset price bubbles, especially in the property market, even as a sharp drop in the yuan has fed fears of turmoil in markets.

The Chinese Academy of Social Sciences (CASS) on Monday forecast China's economic growth will slow again next year to 6.5 per cent, which would be the slowest pace in more than 25 years, down from expected growth of around 6.7 per cent for this year.