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Stimulus 2.0 will unleash new wave of investment: analysts
By Wang Yanlin |
August 8, 2012, Wednesday
|
Online Edition
Online Edition
FIXED-ASSET investment may surge in the following months as local governments rolled out massive investment plans one after another to revive the economy.
Calling it stimulus 2.0, analysts now expected the new wave of investment to exceed 4 trillion yuan (US$635 billion), the amount the central government had spent since 2008 to save the country from the global financial crisis.
"Policy stimulus will pick up and investment growth may surprise on the upside in the second half," said Zhang Zhiwei, an economist at Nomura.
The National Bureau of Statistics is due to unveil the January-July investment growth figures tomorrow, along with other key economic indicators including industrial production, retail sales and consumer prices.
Investment expenditure, especially input in infrastructure, has become an important card that the Chinese government plays to engineer the economy, said Lu Zhengwei, chief economist at Industrial Bank.
Lu expected fixed-asset investment will expand 20.4 percent from a year earlier in July, up from June's advance of 20.1 percent.
China has shifted from a previous emphasis on domestic consumption as a growth engine to a policy of "maintaining reasonable investment" to boost domestic demand, Premier Wen Jiabao said last month on an inspection tour in Jiangsu Province.
Calling it stimulus 2.0, analysts now expected the new wave of investment to exceed 4 trillion yuan (US$635 billion), the amount the central government had spent since 2008 to save the country from the global financial crisis.
"Policy stimulus will pick up and investment growth may surprise on the upside in the second half," said Zhang Zhiwei, an economist at Nomura.
The National Bureau of Statistics is due to unveil the January-July investment growth figures tomorrow, along with other key economic indicators including industrial production, retail sales and consumer prices.
Investment expenditure, especially input in infrastructure, has become an important card that the Chinese government plays to engineer the economy, said Lu Zhengwei, chief economist at Industrial Bank.
Lu expected fixed-asset investment will expand 20.4 percent from a year earlier in July, up from June's advance of 20.1 percent.
China has shifted from a previous emphasis on domestic consumption as a growth engine to a policy of "maintaining reasonable investment" to boost domestic demand, Premier Wen Jiabao said last month on an inspection tour in Jiangsu Province.
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