Academics say the annual rate of growth in the mainland economy could be 6.5 percent or 6.6 percent in the next five years, if the country persists with structural reform, Xinhua reports.

The government-run news agency says this is one conclusion in a study by Renmin University of China’s School of Economics.

The report quotes one of the study’s authors, Renmin University Professor Liu Fengliang, as saying structural reform should focus on the financial and factor markets, improving supervision of the financial markets and the standards of the products manufactured.

Mr Liu is quoted as saying development driven by innovation should be the impetus for growth.

The economy was 6.7 percent bigger in the second quarter in year-on-year terms, growing at the same annual rate as in the first quarter. The government’s growth target this year is for between 6.5 percent and 7 percent this year.