GDP growth rate projected to reach 6.73% this year

A report by the Shanghai Academy of Social Sciences forecast that China will achieve a GDP growth rate of about 6.73 percent in 2018 and 6.65 percent in 2019.

"We estimated that the country's economy will continue growing at a steady pace," said Quan Heng, director of the Institute of World Economy under the academy, which released the 2018 Analysis Report on World Economy on Tuesday.

The report said that the major issues to be addressed currently regarding China's economy are preventing financial risks and improving the structure of investment and output.

It forecast the global economic growth rate would be 2.93 percent in 2017, 3.12 percent in 2018 and 3.31 percent in 2019.

Economic globalization will continue to develop in the coming period, the report said, but its model will undergo adjustment and the driving force, scale, speed and structure of it will undergo profound changes.

"With the rise of anti-globalization sentiments, the Belt and Road Initiative will be the most powerful driving force for globalization," Quan said.