China’s real GDP is expected to increase by 6.4% in 2019, a slowdown from the 6.6% recorded growth of last year, according to a report co-released by Xiamen University and Xinhua News Agency’s Economic Information Daily, China Securities Journal reported.

Fixed asset investment will increase by 7.25% in 2019 and the growth rate will increase by 1.23 percentage points over 2018.

Retail sales are expected to increase by 8.92% in nominal terms, and the growth rate could be 0.13 percentage points lower than that in 2018.

CPI is likely to rise by 2.01%, which is 0.12 percentage points lower than that of 2018. PPI may increase by 1.40%, a decrease of 2.13 percentage points.

The report also suggests that current financial support and tax reduction policies should focus on crowding out ineffective and inefficient investments, encouraging enterprises to increase R&D investment and enhance competitiveness, so as to promote industrial transformation and achieve rapid growth in labour productivity.