The reason for the gloomy forecast is the US-triggered trade tension between China and the US, which could dampen confidence in investment and economic development, said Wang Huiyao. Wang is a counselor of the State Council, China's Cabinet, and founder and president of the Center for China and Globalization, the Beijing-headquartered non-governmental think tank.

China is one of the world's largest economic engines and the leader of the global value chain, so if the tension hurts both countries' economies it would definitely harm world economic forecasts, Wang said.

China should continue its reform and opening-up and continue to support the world economy, Wang added.