Fitch keeps 8% growth outlook for China
By Lilith Hu |
May 15, 2012, Tuesday
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Print Edition
Print Edition
FITCH Ratings has retained its previous projection of an 8 percent economic growth for China this year, and said the nation's economic slowdown has not severely impacted the labor market so far.
"The official data on job vacancies indicated the labor market is not severely impacted by the economic slowdown," Andrew Colquhoun, senior director for Fitch Ratings in Asia, said during a telephone conference yesterday.
But he warned that a "slowing residential property construction will drag down China's growth. We expect a moderate easing of credit in the future."
But he is confident that China will not see a hard landing in its economy as the slowdown is a deliberate policy.
In March, Premier Wen Jiabao cut China's growth target this year to 7.5 percent from 8 percent.
"The official data on job vacancies indicated the labor market is not severely impacted by the economic slowdown," Andrew Colquhoun, senior director for Fitch Ratings in Asia, said during a telephone conference yesterday.
But he warned that a "slowing residential property construction will drag down China's growth. We expect a moderate easing of credit in the future."
But he is confident that China will not see a hard landing in its economy as the slowdown is a deliberate policy.
In March, Premier Wen Jiabao cut China's growth target this year to 7.5 percent from 8 percent.
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