Abstract: Since December last year, both the domestic conditions of and external environment for the Chinese economy have experienced a number of changes. This report provides the mid-year update of our China macroeconomic forecast for 2015.  Although GDP growth in the first half of this year has been weaker than expected, we have reasons to expect some modest recovery in sequential growth in the second half of this year.  Compared with our forecast published in December last year, we revise down our 2015 full-year GDP growth forecast to 7.0% (from 7.1%), cut our CPI inflation forecast to 1.4% (from 2.2%), and raise the forecast for current account balance/GDP ratio to 2.9% (from 2.4%).

Full report ：2015  China  Macroeconomic Forecast（Updated）