Top 10 predictions of Chinese economy in 2018

China's central bank is unlikely to raise the benchmark interest rate in 2018, the Shanghai Securities News reported as one of the 10 predictions for Chinese economy this year.

The renminbi exchange rate will be "basically stable at a reasonable equilibrium level", according to the report.

Let's take a look at the top 10 predictions for the Chinese economy in 2018.

No 1 Recovery of the world economy provides a good environment for the Chinese economy

The continuous overall recovery of the world economy provides a good external environment for the development of China's foreign trade and investment in 2018. The global economic growth rate is expected to reach 3.7 percent in 2018, up from 3.4 percent in 2017, as global economic growth started to accelerate in the second half of 2016.

The economic growth in developed countries is predicted to be 2.4 percent in 2018, up from 2.1 percent in 2017. Economic growth in the United States and European Union economies will accelerate to 2.7 percent and 2.3 percent respectively in 2018.

The economic growth in developing countries will reach 4.6 percent in 2018, up from 4.3 percent in 2017, as major emerging economies have experienced industrial structure adjustments and global industry value-chain reconstruction brought by technological improvement and innovation.