CHINA’S NEW NORMAL: SLOWER ECONOMIC AND EARNINGS GROWTH

HONG KONG — China’s days of investment-led double-digit GDP growth are over, according to Citibank. “Our economists expect the economy to adjust down to consumer-led 6-8% growth over the next decade. In lockstep, corporate earnings will also decelerate and quality, rather than quantity, of growth will increasingly dictate stock premiums and discounts,” the bank says.