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A leading Chinese investment firm raised its forecast Monday for China's economic growth in 2018, citing optimism on consumption and investment in property and manufacturing.
In a report, China International Capital Corp (CICC) raised its forecast for China's 2018 real GDP growth to 6.9 percent year-on-year, compared with the current consensus forecast of 6.4 percent.
"We are more optimistic on the growth of consumption, property investment, and manufacturing capex [capital expenditure] compared with the consensus view," it said.
The consumer price index is predicted to rise 2.5 percent year-on-year in 2018.
