Related News
World Bank expects China to grow slower
By Wang Yanlin |
June 13, 2013, Thursday
|
Online Edition
Online Edition
THE World Bank cut its China's 2013 growth forecast to 7.7 percent today, compared with the previous projection of 8.3 percent in April as Chinese policymakers are "busy rebalancing the growth model."
It was the second cut since December last year when the bank expected China to grow 8.4 percent in 2013.
"The main risk related to China remains the possibility that high investment rates prove unsustainable, provoking a disorderly unwinding and sharp economic slowdown," the bank said in its Global Economic Prospects released today.
"Should investments prove unprofitable, the servicing of the existing loans could become problematic -- potentially sparking a sharp uptick in non-performing loans that could require state intervention," the bank said.
It expected growth of East Asia and the Pacific would slow to 7.3 percent this year, largely due to weaker performance in China as the country started to reduce its reliance on net exports and investment.
In the previous report in April, the bank said China should address challenges related to the property sector, the financial system and local government liabilities to avoid a sharp slowdown.
Globally, the bank downgraded its economic projection for this year to 2.2 percent from 2.4 percent, citing subdued growth in high-income countries, especially in Europe, despite their improvements in financial conditions.
It was the second cut since December last year when the bank expected China to grow 8.4 percent in 2013.
"The main risk related to China remains the possibility that high investment rates prove unsustainable, provoking a disorderly unwinding and sharp economic slowdown," the bank said in its Global Economic Prospects released today.
"Should investments prove unprofitable, the servicing of the existing loans could become problematic -- potentially sparking a sharp uptick in non-performing loans that could require state intervention," the bank said.
It expected growth of East Asia and the Pacific would slow to 7.3 percent this year, largely due to weaker performance in China as the country started to reduce its reliance on net exports and investment.
In the previous report in April, the bank said China should address challenges related to the property sector, the financial system and local government liabilities to avoid a sharp slowdown.
Globally, the bank downgraded its economic projection for this year to 2.2 percent from 2.4 percent, citing subdued growth in high-income countries, especially in Europe, despite their improvements in financial conditions.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
