Expectations for Chinese economy improve: German institute

BERLIN - The expectations for China's economy in the coming 12 months continue to improve notably, German economic research institute Center for European Economic Research (ZEW) reported on Wednesday.

The ZEW indicator, which reflects the expectations of international financial market experts regarding China's macroeconomic development, has climbed into the positive territory again to 5.0 points in November, though slightly below the long-term average of 5.4 points.

In addition, the expected growth rate of China's economy for 2017 also improves slightly to 6.5 percent, according to the latest survey carried out in November by ZEW.

Surveyed experts noted that export is becoming less and less significant as a driver of growth in the Chinese economy, while domestic consumption may become even more significant as a central pillar of the Chinese economy.