China announced that its third quarter economic growth rate was 6.9%. Taiwan’s Finance Minister Chang Sheng-ford said on Tuesday that a GDP growth rate of less than 7% will become a new norm for China.
"Mainland China said it will become difficult for the country’s economic growth rate to be above 7% in the future," said Chang.
"When the scale of the economy is greater, the GDP growth rate will not remain that high. I have met with their finance minister. He said if the scale of the economy stays as it is, GDP growth will not be this high. Just like in the United States, the growth rate is always at 1% or 2%. As long as the base becomes bigger, the growth rate will not be that high.”