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By Tang Guhan

Elitza Mileva, a senior economist from the Work Bank, said the World Bank projected a 6.5-percent growth in China this year in an exclusive interview with the China Fortune Media Group at the Hangzhou Bay Forum 2018 recently. 

Elitza Mileva, a senior economist from the Work Bank, spoke in an exclusive interview with China Fortune Media Group.

However, there are many uncertainties in the last quarter of this year due to the current US and China trade tensions, she added.

China's stock market has witnessed fluctuations recently. 

Liu He, a vice premier of China, said on Friday the trade disputes have more impacts on investors' sentiments than the actual effects on the economy. However, China's stock market has become one of the most valuable and attracting markets for global investors. China is undertaking measures on further reforms and opening-up.    

Liu said the middle-income and the elderly groups have more consumption demands nowadays and biotechnology, information technology and green technologies are providing opportunities for economic development.  

China should use external pressure as an opportunity to deepen its internal reforms and improve competitiveness, said Zhang Yansheng, a research fellow at the National Development and Reform Commission Academic Committee. 

Li Xunlei, chief economist at Zhongtai Securities, said the recent stock market's fluctuation reflects the changes in investors' expectations. Investors are worried about the future of China's capital market amid recent trade tensions with the US.     

Mileva suggested focusing on household consumptions to stimulate economic growth. "China should not only focus on infrastructure investment but also on measures to make residents save less. We have seen China is revising its personal income law recently and I think the impact on consumption is relatively limited; China could work on pensions to make citizens feel secure and to save less."