Next year, the outlook of both the China's economy and the world’s economy is not optimistic.

ANBOUND’s chief researcher, Chan Kung, points out that the external economic factors will have more far-reaching impacts on China’s economy.

In the coming year, it is very hard to see the improvement in market situation and hence next year will be a difficult year.

For local governments, they should put more of their resources on three aspects: -

(i)Guarantee wages and basic welfare;

(ii)Maintain the operation of the city; and

(iii)Building and encourage market