As expected, the GDP grew by 6.7%, down from the 6.9% in 2015. Strong financial expenses and bank debts kept high growth in real estate industry. But Xi warned that Chinese economy is facing downward pressure, where financial risks and industrial overcapacity are top economic challenges. Additionally, the risk of trade war with America is another challenge threatening Chinese economy. In truth GDP growth rate in China is largely irrelevant and rather than being an achievement, it is simply “a budget target “.