Concerns amid strong growth
By Wang Yanlin |
June 28, 2010, Monday
|
Print Edition
Print Edition
CHINA'S economy is strong and stable but there are concerns over rising inflationary pressure as well as continued uncertainties in the property market, economists said at the Lujiazui Forum over the weekend.
"China is one of the fastest growing economies," said Ha Jiming, chief economist at the China International Capital Corp. "Recent economic indicators, including industrial production, retail sales and trade, all suggest China's expansion is strong and stable."
China's gross domestic product surged 11.9 percent from a year earlier in the first quarter, the quickest in more than two years and propelled China to be the fastest growing economy in the world.
Some analysts, however, are worried about China's growing inflationary pressure. But Ha did not consider it a big concern.
"Inflation is still under control," Ha said. "It is definitely not stagflation as some people think."
But China's property market may still experience uncertainties and housing prices may drop 10 percent at the end of this year after two quarters of sluggish sales, Ha predicted.
Andy Xie, director of the Rosetta Stone Capital Ltd, however held a different view from Ha.
Xie said the government may fine-tune its tough property policies before housing prices start to fall sharply.
"Property sales are an important source of government income and I bet the policy makers won't allow the market to stay gloomy for long," he said.
China imposed strict steps, including raising down-payment on second homes and suspending credit to buyers of third and more homes, in mid-April to curb speculation and rising prices.
"China is one of the fastest growing economies," said Ha Jiming, chief economist at the China International Capital Corp. "Recent economic indicators, including industrial production, retail sales and trade, all suggest China's expansion is strong and stable."
China's gross domestic product surged 11.9 percent from a year earlier in the first quarter, the quickest in more than two years and propelled China to be the fastest growing economy in the world.
Some analysts, however, are worried about China's growing inflationary pressure. But Ha did not consider it a big concern.
"Inflation is still under control," Ha said. "It is definitely not stagflation as some people think."
But China's property market may still experience uncertainties and housing prices may drop 10 percent at the end of this year after two quarters of sluggish sales, Ha predicted.
Andy Xie, director of the Rosetta Stone Capital Ltd, however held a different view from Ha.
Xie said the government may fine-tune its tough property policies before housing prices start to fall sharply.
"Property sales are an important source of government income and I bet the policy makers won't allow the market to stay gloomy for long," he said.
China imposed strict steps, including raising down-payment on second homes and suspending credit to buyers of third and more homes, in mid-April to curb speculation and rising prices.
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