chinas economy firmer but pressure remains
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

China's economy firmer, but pressure remains

Arab Today, arab today

Arab Today, arab today China's economy firmer, but pressure remains

Encouraging data points to stabilization of China's economy but challenges ranging from tepid private investment to sluggish global economy suggest a strong recovery is unlikely.
Beijing - XINHUA

 Encouraging data points to stabilization of China's economy but challenges ranging from tepid private investment to sluggish global economy suggest a strong recovery is unlikely.

China's industrial output remained steady in May, and retail sales were also robust. Property activity moderated but was still strong.

"The economy is holding steady thanks to pro-growth policies and it [will hopefully] pick up in the second and third quarters," said Jing Ulrich, managing director and vice chairman of Asia Pacific at J.P. Morgan Chase.

Fiscal policies will likely maintain strong while monetary policies will gradually become neutral, she said, adding that she predicted the central bank would cut interest rates once this year.

Likewise, UBS economist Wang Tao expects economic activity to hover around its current pace for another few months, with firmer growth in the April-June period on a sequential basis.

Wang maintained her forecast for full year GDP growth at 6.6 percent.

Despite the warming signs, Ulrich does not expect a strong rebound due to the sluggish global economic recovery.

"The U.S. economy markedly slowed in the second quarter and its employment data also fell short of market expectations, which will weigh on China's exports and impact Chinese companies' presence overseas," Ulrich said.

Besides, growth of private investment, which accounted for around two thirds of the country's total investment, slowed to 3.9 percent in the January-May period from an already weak 5.2 percent in the first four months.

China should count on the service sector and high-tech manufacturing for sustainable growth momentum under the current structural slowdown, Ulrich said.

The service sector has become one of the most potent economic drivers, accounting for 56.9 percent of the country's GDP in the first quarter, with rapid growth in the Internet, entertainment and sports sectors.

China's GDP expanded 6.7 percent year on year in the first quarter, the slowest growth since the global financial crisis in early 2009.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

chinas economy firmer but pressure remains chinas economy firmer but pressure remains

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

chinas economy firmer but pressure remains chinas economy firmer but pressure remains

 



GMT 14:34 2016 Sunday ,18 September

Rob Reiner: Donald Trump supporters aiding racism

GMT 13:31 2017 Thursday ,28 September

Fourth gravitational wave is detected, with European help

GMT 06:37 2018 Friday ,05 October

Zenit defeats Slavia Praha in UEFA Europa League

GMT 01:23 2017 Wednesday ,11 October

IMF's Lagarde urges smooth transition for UK

GMT 09:29 2017 Friday ,07 April

FVP Chairs Students Support Fund Meeting

GMT 19:52 2017 Monday ,25 September

Exchange rate stable at major Egyptian banks

GMT 19:31 2016 Tuesday ,22 November

Al-Asiri: No extension of Yemen cease-fire

GMT 22:22 2017 Monday ,02 October

Hughes injury leaves England with No 8 worry

GMT 20:29 2017 Thursday ,04 May

Algerian parliamentary elections kicks off

GMT 01:34 2017 Tuesday ,11 April

Oman takes part in Arab Labour Conference in Egypt

GMT 15:30 2017 Thursday ,30 November

Viagra to be sold without prescription
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday