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Cover Story<br />
The Chinese economy has witnessed tremendous growth in the last<br />
few decades that triggered such change in the country's economy,<br />
which ended up in making it the world's second-largest<br />
economy. In 1978 when China started the idea of<br />
economic reforms-then the country was in the<br />
ninth position in terms of gross domestic<br />
product (GDP) with USD 214 billion<br />
and now after 35 years, it has<br />
acquired second place with<br />
a nominal GDP of USD 9.2<br />
trillion.<br />
How Chinese economy<br />
witnessed tremendous<br />
growth in last few<br />
decades<br />
These days, China kee<br />
-ping its 3.0% fiscal deficit<br />
target, analysts expect that<br />
policy support will remain<br />
strong mainly through using<br />
the off- budget methods. On the<br />
monetary policy side, the credit<br />
growth target has been set low,<br />
which implicates narrowing the options<br />
for this year.<br />
January 2017 12
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