2015-09-09 21:39:02 CRIENGLISH.com

The China Macroeconomic Advanced Forum (Autumn 2015) is held at Kobe University, in western Japan's Kobe city on September 9th, 2015. [Photo: Xiamen University]

China will not see an economic downturn and will be able to reach the target GDP growth of 7% in both 2015 and 2016, according to a study from the Macroeconomic Study Center of Xiamen University released in Japan on September 9th.

China's GDP growth rate is expected to reach 7.1% in 2015, 0.2 percent lower than 2014, and will fall to 7.04% in 2016, the center announced at the "China Macroeconomic Advanced Forum (Autumn 2015)" held at Kobe University, in western Japan's Kobe city.

Other figures released by the center include the CPI (expected to rise 1.62% in 2015 and 2.14% in 2016) and the PPI (expected to down 4.32% in 2015 and 1.34% in 2016).

The center also predicted that the growth of export would be 1.87% in 2015, 3.3 percent lower than 2014; and the growth of import would see a sharp decrease by 11.47% in 2015, 12.2 percent lower than last year.

However, the center said the demand from the overseas market will eventually have a good impact on China's import and export. The growth of export is expected to be 6.81% and the growth of import is expected to be 3.72% in 2016.

Furthermore, the center predicted that Chinese GDP will see a potential growth of 6.79% in the next 5 years from 2016-2020.

It was the 19th China's Quarterly Macroeconomic Model (CQMM) report since 2006, and the second overseas release after 2014 in Germany. Professor Shigeyuki Hamori, deputy dean of the Faculty of Economics at Kobe University, said he is impressed by the work done based on CQMM and said the model is one of the most influential in China.