The world's second-largest economy remains on track to be one of the fastest-growing globally, according to Jing Ulrich, managing director and vice chairman for Asia Pacific at J.P. Morgan Chase.
She said the firm expects China's economy to slow from 6.6 percent to 6.1 percent next year. Beijing's efforts to reduce reliance on debt for growth, an increase in uncertainty among consumers and an investment slowdown in areas such as real estate are all contributing to the slowdown, Ulrich said.
However, a growth rate above 6 percent would still mark one of the fastest in the world, and would top the U.S., which grew at a 3.5 percent annual rate in the third quarter.
Ulrich added she expects the U.S. economy to slow next year, as corporate profit growth slows and the stimulative effects of tax cuts wear out.