Economy moderating in stable manner
By Wang Yanlin |
October 12, 2011, Wednesday
|
Print Edition
Print Edition
CHINA'S economic performance will remain stable this year despite the potential for an inflation rebound in September, slower trade growth and less investment, analysts said yesterday.
They predicted monetary policies are unlikely to loosen soon, although many have lowered their growth projections for the country.
"The release of key economic data for September will be important for gauging the health of China's economy," said Lu Zhengwei, chief economist at the Industrial Bank. "They are decisive for reviewing policy after the government has effectively halted tightening measures."
However, Lu said China is unlikely to make dramatic changes to its prudent monetary policies because inflation may rebound to 6.3 percent in September from August's 6.2 percent.
The National Bureau of Statistics is due to release the consumer and producer price indexes, two key measurements of inflation, on Friday. The third-quarter gross domestic product growth rate will be unveiled next Tuesday.
Chen Jiagui, a researcher at the Chinese Academy of Social Sciences, said: "China's economy is moderating, but in a stable way. Now China is much more prepared and experienced to cope with economic difficulties than it was in 2008 when the global recession began."
On Monday, the academy, a government think tank, reduced its estimate of China's growth for 2011 to 9.4 percent from a previous 9.6 percent, citing intensive economic restructuring that allows the economy to depend less on government stimulus.
They predicted monetary policies are unlikely to loosen soon, although many have lowered their growth projections for the country.
"The release of key economic data for September will be important for gauging the health of China's economy," said Lu Zhengwei, chief economist at the Industrial Bank. "They are decisive for reviewing policy after the government has effectively halted tightening measures."
However, Lu said China is unlikely to make dramatic changes to its prudent monetary policies because inflation may rebound to 6.3 percent in September from August's 6.2 percent.
The National Bureau of Statistics is due to release the consumer and producer price indexes, two key measurements of inflation, on Friday. The third-quarter gross domestic product growth rate will be unveiled next Tuesday.
Chen Jiagui, a researcher at the Chinese Academy of Social Sciences, said: "China's economy is moderating, but in a stable way. Now China is much more prepared and experienced to cope with economic difficulties than it was in 2008 when the global recession began."
On Monday, the academy, a government think tank, reduced its estimate of China's growth for 2011 to 9.4 percent from a previous 9.6 percent, citing intensive economic restructuring that allows the economy to depend less on government stimulus.
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