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Hang Seng Bank (00011) sees China 2018 GDP growth at 6.6%
China has made some progress towards resolving
the issues of industrial overcapacity and oversupply of housing, said Hang Seng Bank (HSB)
(00011) in its "China Economic Monthly" report.
  The bank thus forecast only a modest economic slowdown on the Mainland. Its growth
projection for 2018 is 6.6%, stronger than market expectations of around 6.4-6.5%.
  It believes that regulators are likely to keep a close eye on controlling financial
risks, but the People's Bank of China looks set to maintain a neutral monetary policy
stance.
  With dollar weakness likely to persist, HSB expects the onshore renminbi (RMB) to stay
between 6.3-6.4 by the year end, down from 6.6-6.7 previously.

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