Economist: China able to maintain 6.5 percent annual growth over next decade

It’s entirely possible that China will maintain an annual economic growth of 6.5 percent for the next 10 years, said Justin Yifu Lin, former chief economist of the World Bank, China News Agency reported.

Lin made the remarks at a forum held at the University of International Business and Economics, Beijing.

China’s reform will always be on the road, Lin said. In the 40 years of reform and opening up, the country has followed its own path of economic development and become a medium-high income country.

The economist said China should continue deepening reform and give a decisive role to the market in allocating resources.

As new industries with higher added value will continue to emerge, the potential for a relatively high economic growth won’t change, Lin said. He added that through supply-side structural reform and optimizing industrial structures, China should expect to keep annual growth at around 6.5 percent over the next decade.

The economist believes the basis for mutually beneficial and win-win cooperation between China and the U.S. will not change.