久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Latest

Economy's rebound set to continue in H2

By LI XIANG | China Daily | Updated: 2020-07-20 07:20
Share
Share - WeChat
A woman works at a chemical fiber company in Zunhua, Hebei province, on Thursday. China's GDP grew by 3.2 percent year-on-year in the second quarter, compared with a 6.8 percent decline in the first quarter. LIU MANCANG/ XINHUA

More policies urged to facilitate services sector's comeback, spur consumption

China's growth recovery is set to continue in the second half of the year, and Beijing's policies are expected to focus on narrowing the development gaps amid the rapid and yet uneven rebound to consolidate the economy's long-term resilience, economists said.

They expect the government's main objectives to continue to center around stabilizing employment and ensuring corporate survival while retaining policy room for any shocks generated by the potential resurgence of the COVID-19 pandemic.

While the world is still struggling with the impact of the pandemic, China's economy made a strong bounce-back in the second quarter, beating economists' expectations by growing 3.2 percent from a year earlier.

Analysts are now pondering the sustainability of such strong rebound momentum and how China's policy may evolve in the second half of the year to keep its economy on a steady recovery path.

The general view among economists is that China's recovery will continue in the second half but the sequential pace may be slower as the economy continues to face acute challenges such as persisting unemployment pressure and the possibility of the resurgence of the pandemic.

China will need to step up policy support to address some of the uneven patterns behind the strong rebound, economists said. For example, household consumption remained subdued as national retail sales declined 1.8 percent year-on-year in June, and the recovery of the services sector has fallen behind the country's industrial production and construction growth.

"The economy has recovered well with respect to industrial production while services took a hit in the first half of the year. In the coming months, we will likely see this performance gap narrowing and economic growth accelerating," said Dominik Peschel, head of the economics unit for the Asian Development Bank's resident mission in China.

Economists expect that more supportive policies will be rolled out to facilitate a stronger recovery of the services sector and to spur domestic consumption.

Peschel said that the resumption of household consumption will play a crucial role in the continuity of China's recovery in the coming months. The prerequisites for domestic consumption to pick up include the avoidance of a second wave of COVID-19, supportive government policies aiming at stabilizing employment and household incomes, and an improvement in consumer sentiment, he added.

Meanwhile, policy efforts should continue to focus on ensuring that businesses-especially small and medium-sized enterprises-obtain sufficient credit at a reasonable interest rate as employment generation and improvements to people's basic livelihoods largely depend on the capacity of businesses to continue employing staff in a challenging economic environment, Peschel added.

Most economists see no imminent reversal of China's overall policy easing stance after a senior official of the National Bureau of Statistics said on Friday that the national economic recovery remains under pressure as the losses caused by the pandemic have not been fully recouped and getting the economy back to normal is still a strenuous task.

Wang Jinbin, deputy dean of the School of Economics at Renmin University of China, said during an online forum on Saturday that China's overall credit supply will likely be kept at a high level in the coming quarters and more fiscal spending can be expected to help the disaster relief effort and reconstruction in the flood-affected southern regions.

Economists said that China's future policy will continue to reflect the central leadership's idea of maintaining its strategic focus and the bottom-line thinking to prevent the country's economy from suffering unexpected damage given the highly uncertain outlook for the global economy.

"We think the continued growth recovery in the second quarter will not reverse the overall policy easing stance in the third quarter as economic activities have yet to fully return to normal, job market pressure persists and growth uncertainties linger," China economists at Swiss bank UBS said.

But the central leadership may reassess the mix of policy easing in the months to come as China's growth normalizes and external demand recovers, they said.

Yi Gang, governor of the People's Bank of China, the central bank, said recently that the country needs to prevent its supportive financial policy from diminishing incentives and the government needs to pay more attention to the policy's side effects.

The country's financial regulators have been keeping a vigilant eye on the recent rapid rise of asset prices as well as the potential growth of nonperforming loans in the banking sector amid concerns that the rapid buildup of leverage and the potential surge of bad loans could jeopardize the stability of the country's financial system.

Hua Changchun, chief economist at Guotai Jun'an Securities, said that government policy needs to strike a balance between supporting the economic recovery and preventing financial risks and asset bubbles in capital markets.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 香蕉自拍视频 | 成人在线免费播放 | 99精品久久久久久久 | 99久久亚洲国产高清观看 | 一级爱爱片一级毛片-一毛 一级爱做片免费观看久久 一级白嫩美女毛片免费 | 国产成人精品女人不卡在线 | 亚洲精品一区最新 | 免费观看性欧美一级 | 精品久久久视频 | 欧美亚洲网站 | se就是色94欧美setu | 免费欧美一级片 | 91精品国产福利尤物免费 | 在线视频 一区二区 | 看国产一级毛片 | 爽死你个放荡粗暴小淫货双女视频 | 各种偷拍盗摄视频在线观看 | aaa毛片免费观看 | 怡红院美国十次成人影院 | 国产精品三级国语在线看 | 欧美不卡在线视频 | 免费国产成人高清在线观看不卡 | 91久久香蕉青青草原娱乐 | 一本色道久久88亚洲精品综合 | 欧美日韩国产亚洲一区二区三区 | 久久国产免费观看精品1 | 欧美黄a| 国产三级免费观看 | 亚洲天堂久久 | 国产欧美日韩综合精品无毒 | 欧美另类交视频 | 中文字幕免费观看 | 午夜精品视频在线观看美女 | 免费观看亚洲视频 | 小明台湾成人永久免费看看 | 免费人成在线观看网站视频 | 欧美高清一区二区 | 国产精品一区高清在线观看 | 国产一精品一aⅴ一免费 | 日韩亚洲成a人片在线观看 日韩亚洲精品不卡在线 | 草草影院在线播放 |