UBS predicts pickup in social housing
By Wang Yanlin |
February 25, 2012, Saturday
|
Print Edition
Print Edition
CHINA'S infrastructure investment and social housing may pick up from the second quarter onwards to help sustain growth at about 8.5 percent this year, UBS said in a report yesterday.
"The lack of clear policy and liquidity easing may have contributed to companies' reluctance to spend and invest in the first quarter, which is likely to be the weakest this year," UBS economist Wang Tao said.
"With the government's desire to ensure smooth economic growth becoming more prominent, we expect investment to rebound from the second quarter onwards, led by infrastructure investment and social housing."
The People's Bank of China insists on a prudent monetary policy stance. But it has unexpectedly announced a cut in reserve requirement ratio, which took effect yesterday and added about 400 billion yuan (US$63.5 billion) into the market, to boost liquidity.
"The lack of clear policy and liquidity easing may have contributed to companies' reluctance to spend and invest in the first quarter, which is likely to be the weakest this year," UBS economist Wang Tao said.
"With the government's desire to ensure smooth economic growth becoming more prominent, we expect investment to rebound from the second quarter onwards, led by infrastructure investment and social housing."
The People's Bank of China insists on a prudent monetary policy stance. But it has unexpectedly announced a cut in reserve requirement ratio, which took effect yesterday and added about 400 billion yuan (US$63.5 billion) into the market, to boost liquidity.
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