China Growth May Slow to 6.6 Percent in 2016, Researchers Say

China Growth May Slow to 6.6 Percent in 2016, Researchers Say

Economic growth in China will continue to slow next year to between 6.6 and 6.8 percent, according to the country’s top government-backed research organization.

The Chinese Academy of Social Sciences predicted a “slow bull” market with the Shanghai Composite Index fluctuating between 3,200 and 4,000, according to a statement released at a briefing Wednesday. The think tank last year projected 2015 growth of 7 percent, then lowered the estimate to 6.9 percent in the middle of the year.

Challenges are mounting for the Communist Party as it moves to an economy based more on services and less on infrastructure investment and exports.. Economists surveyed by Bloomberg see expansion slowing to 6.5 percent next year.