adb upgrades china growth forecast
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice
Emiratesvoice, emirates voice
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

ADB upgrades China growth forecast

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice ADB upgrades China growth forecast

The logo of the Asian Development Bank.
Beijing - XINHUA

The Asian Development Bank (ADB) slightly upgraded its forecast for China's annual economic growth on Tuesday, citing stronger-than-expected performance in the first half of 2016 and possible stimulus measures.

The ADB forecast that China's economy will grow 6.6 percent in 2016, up from its March projection of 6.5 percent, with 2017 growth estimated at 6.4 percent rather than the previous estimate of 6.3 percent.

"The economy is on track to achieve the government's annual average growth target of 6.5-7 percent," said ADB deputy chief economist Juzhong Zhuang in a statement.

The continued implementation of structural reforms should help China overcome risks, including weak export demand, falling manufacturing investment and the risk of asset price bubbles, Zhuang said.

The first-half performance for 2016 was supported by increased government infrastructure spending, strong retail spending and an accommodative monetary policy, the ADB said.

Services expanded their share of GDP by 1.8 percentage points in the first half from a year earlier, an indication of China's continued economic restructuring, it said.

However, the bank saw growth in other sectors, including industry and exports, remain under pressure, while growth in real disposable income slowed.

It predicted investment growth will weaken further, with credit growth slowing and spending on manufacturing remaining subdued, due to ongoing rebalancing of the economy and soft global demand.

In response, the government will likely take further stimulus measures to boost infrastructure, the ADB said.

Fiscal policy measures offer more scope for stimulus than monetary policy, given relatively low levels of central government debt and risks from easy credit, the bank suggested.

It noted that authorities must tread carefully when stimulating the economy to prevent too rapid credit expansions and real estate price bubbles, which could pose risks to the quality of bank assets.

The ADB forecast that the inflation rate in 2016 will move up to 2 percent from 1.7 percent projected in March amid ongoing price deregulation and rising service costs.

China's economy grew 6.7 percent year on year in the second quarter of this year, stable from the first quarter and slightly faster than expectations.

Source : XINHUA

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

adb upgrades china growth forecast adb upgrades china growth forecast

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

adb upgrades china growth forecast adb upgrades china growth forecast

 



GMT 10:08 2018 Wednesday ,24 January

Microsoft to open 4 data centres

GMT 05:04 2024 Tuesday ,06 February

Skincare PR Performance Full Year 2017

GMT 06:15 2018 Tuesday ,23 January

Volkswagen clinches record sales

GMT 19:57 2018 Tuesday ,23 January

Farm-fresh from Kerala to the UAE, in just one day

GMT 10:18 2018 Thursday ,30 August

Iran incapable of closing Hormuz, Bab Al Mandeb

GMT 05:22 2014 Thursday ,27 November

Sesame paneer wraps

GMT 17:06 2012 Monday ,30 January

Simon\'s cooking idol

GMT 09:13 2013 Friday ,22 February

Do the hippy shake

GMT 15:12 2012 Thursday ,20 September

The modern girl

GMT 21:43 2011 Friday ,30 September

Free Ride

GMT 12:10 2014 Tuesday ,28 October

Bin Rashid's vision shaped development of industry

GMT 07:57 2011 Friday ,14 October

The Bloody Meadow

GMT 09:43 2012 Saturday ,25 February

A walk in the desert

GMT 10:07 2014 Saturday ,15 November

Assad’s old tricks

GMT 20:07 2014 Tuesday ,01 July

May 21 - June 20

GMT 09:18 2013 Thursday ,14 February

All the small things
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice