www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Macro

OECD sees growth on upswing

By Li Xiang in Paris, Chen Jia in Beijing and Ding Qingfen in Nanning (China Daily) Updated: 2013-09-04 08:49

OECD sees growth on upswing

China's economic growth is expected to pick up to 8 percent by the fourth quarter after a slowdown in the first half of 2013, the Organization for Economic Cooperation and Development said on Tuesday in its latest assessment.

"Growth in China has seemingly passed the trough and looks set to recover further in the second half of this year," said Jorgen Elmeskov, the OECD's deputy chief economist.

China's low inflation provides scope to ease monetary policy if needed, but strong credit growth suggests the need for caution, he added.

Elmeskov also emphasized the need for deeper structural reforms in China to maintain stable growth.

"The investment rate has come down and other demand components need to take up the slack. To achieve that, structural reform is needed.

"For example, financial and social welfare reforms can help alleviate the problems of savings, and reforms of State-owned enterprises can provide the government with revenues other than taxes," he said.

The Chinese economy has shown signs of recovering, with the manufacturing Purchasing Managers' Index reaching a 16-month high in August, according to a report over the weekend.

In response to encouraging economic data in August, many investment banks and economists have raised their growth forecasts for China's economy.

For example, China International Capital Corp lifted its full-year forecast to 7.5 percent from 7.4 percent previously.

Premier Li Keqiang said on Tuesday at the China-ASEAN forum in Nanning, Guangxi Zhuang autonomous region, that the country is capable of achieving this year's 7.5 percent growth target.

Responding to the government's reassuring message, Chinese stocks rose 1.2 percent on Tuesday to a 10-week high, with the Shanghai Composite Index closing at 2,123.11 points.

Economists have expressed optimism about China's economic prospects for the rest of the year.

Chang Jian, an economist in China with Barclays Capital, said that economic growth in the third quarter is likely to be faster than in the second, based on the August and July manufacturing PMI readings, supported by a policy shift to "stabilizing growth" since July.

Growth momentum may be getting a boost from the lagged impact of rapid credit expansion in the first half, along with recent measures to accelerate railway investment and construction of subsidized housing, she said.

But some economists warned of uncertainties in external demand and financial pressure on enterprises caused by the cautious monetary stance of the Chinese central bank.

"External demand has very limited space to further increase as it is hard for the developed countries to achieve faster growth in the coming months, compared with the better-than-expected performance in the second quarter," said Peng Wensheng, chief economist at CICC.

Moreover, the central bank is maintaining a cautious posture on monetary policy and continuing tight supervision of the "shadow banking" system and local debt, which may increase financing pressure on the government, he added.

In its latest economic assessment report, the OECD also warned about financial instability and capital outflows in emerging economies, partly triggered by an expected tapering of the United States Federal Reserve Board's quantitative easing.

"Countries that have relied heavily on portfolio inflows to finance large current-account deficits will be the most vulnerable," Elmeskov said.

 

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 亚洲美女在线观看 | 亚洲字幕波多野结衣作品 | 日本黄区 | 99精品福利 | 九九九九热精品视频 | 欧美成人免费在线观看 | 伊人黄网 | 欧美成人手机视频 | 欧美人交性视频在线香蕉 | 极品美女户外勾搭无套 | 国产日韩高清一区二区三区 | 一级一级毛片看看 | 国产一级性生活 | 久久久网久久久久合久久久久 | 久久15| 中国一级毛片录像 | 免费人成激情视频在线观看冫 | 国产高清视频免费最新在线 | 日韩欧美亚洲综合久久99e | 国产高清在线看 | 亚洲一区二区三区在线 | 国产成人免费高清视频网址 | 国产一区二区三区不卡免费观看 | 欧美激情免费a视频 | 国产精品免费久久久免费 | 窝窝人体色 | 在线观看欧美亚洲日本专区 | 色青青草原桃花久久综合 | 久久精品www| 中文字幕在线播 | 男人操女人逼逼视频 | 亚洲欧美综合国产精品一区 | 福利姬在线精品观看 | 国产看午夜精品理论片 | 老外毛片 | 一级做a爱过程免费观看 | 91p在线 | 中文字幕成人免费高清在线视频 | 亚洲黄区 | 国产高中生粉嫩无套第一次 | 欧美黄网站免费观看 |