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204769
Thu, 09/01/2011 - 13:52
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https://oananews.org//node/204769
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China's economic growth to slow to barely over 8 pct next year: report
By Kim Young-gyo
HONG KONG, Sept. 1 (Yonhap) -- China's economic growth is expected to slow to barely over 8 percent next year as the world's No. 2 economy will continue to lose steam, a financial report said Thursday.
The country's gross domestic product (GDP) grew 9.5 percent on-year in the April-June period, down from the 9.7 percent expansion recorded in the first quarter of 2011, the National Bureau of Statistics said.
In the first six months of the year, the world's second-largest economy expanded 9.6 percent, compared with a 10.3 percent increase a year earlier.
Investment bank Credit Suisse said in a report that the Chinese government's response to the economic situation could be more timid than what the market expects.
"Compared to 2008, there are much stronger constraints on any credit relaxation or fiscal stimulus activity by the Chinese government," it said in a report.
It added such constraints will dampen infrastructure investment in the country.
Credit Suisse also expected export growth will slow due to weak global demand. With difficulties looming for exporters in China, wage growth momentum of Chinese labor will also likely slow, which in turn could partly hurt consumption, it said.
HONG KONG, Sept. 1 (Yonhap) -- China's economic growth is expected to slow to barely over 8 percent next year as the world's No. 2 economy will continue to lose steam, a financial report said Thursday.
The country's gross domestic product (GDP) grew 9.5 percent on-year in the April-June period, down from the 9.7 percent expansion recorded in the first quarter of 2011, the National Bureau of Statistics said.
In the first six months of the year, the world's second-largest economy expanded 9.6 percent, compared with a 10.3 percent increase a year earlier.
Investment bank Credit Suisse said in a report that the Chinese government's response to the economic situation could be more timid than what the market expects.
"Compared to 2008, there are much stronger constraints on any credit relaxation or fiscal stimulus activity by the Chinese government," it said in a report.
It added such constraints will dampen infrastructure investment in the country.
Credit Suisse also expected export growth will slow due to weak global demand. With difficulties looming for exporters in China, wage growth momentum of Chinese labor will also likely slow, which in turn could partly hurt consumption, it said.
