S&P sees 8.3% rise for China's GDP
By Hu Xiaocen |
March 15, 2012, Thursday
|
Print Edition
Print Edition
STANDARD & Poor's Ratings Services projected that China's economy will expand this year above the official target announced at the National People's Congress meeting last week.
In its latest report, the ratings agency estimated China's gross domestic product to grow 8.3 percent, above the 7.5 percent government goal for this year, due to local governments' appetite for economic growth, the central government's support to small and medium firms and a boost in consumer demand.
S&P also projected China's inflation at about 4 percent this year, the same as the government's forecast.
"The central government's focus remains on guiding the economy to a soft landing," said Kimeng Tan, the primary credit analyst at S&P.
"The memories of rapidly-rising real estate prices and consumer prices are fresh in people's minds. Therefore, (any) policy easing needs to be gradual."
In its latest report, the ratings agency estimated China's gross domestic product to grow 8.3 percent, above the 7.5 percent government goal for this year, due to local governments' appetite for economic growth, the central government's support to small and medium firms and a boost in consumer demand.
S&P also projected China's inflation at about 4 percent this year, the same as the government's forecast.
"The central government's focus remains on guiding the economy to a soft landing," said Kimeng Tan, the primary credit analyst at S&P.
"The memories of rapidly-rising real estate prices and consumer prices are fresh in people's minds. Therefore, (any) policy easing needs to be gradual."
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