The New Year started on good note as the eight core sectors data for the month of November 2017 posted a 13-month high growth of 6.8 per cent year-over-year versus 5 per cent in the month of October. With the improvement in non-food credit, we see the economy heading towards pre-demonetization level.

Rising debt levels and environment concerns has made the Chinese government shift focus from economic growth to containing debt and improving quality of the environment.