China Financial Daily

Bank forecast: Third quarter GDP growth rate of 9%
According to Xinhua News Agency yesterday, Bank of Communications [11.10 -0.27%] Research Department released the report pointed out that the rebound in the second half of China’s economic growth momentum will continue to be upheld, and will further accelerate the expected third quarter GDP growth rate will reach 9%.

The report holds that the price is still down due to the recent passage of deflation pressures still exist, and this year is unlikely to form a significant inflationary pressures. China is expected to report third-quarter CPI, PPI negative growth will continue, but the drop will tend to narrow down. Year-on-year CPI growth in the fourth quarter is expected to turn negative to positive, while the PPI from negative to positive may be postponed until early next year.

The report pointed out that although the absolute increment of the second half of the credit will be decreased, but by the Government continue to invest in investment projects, project the proportion of capital adjustment, the real estate market and other factors continue to promote warmer, credit balances will continue to maintain a certain growth rate is expected to full – in new RMB loans reached from 9 to 10 trillion yuan, tend to optimize credit structure.

The report also for the second half of the monetary policy towards China is forecasted. “Taking into account the economic recovery of the foundation is not strong, rising asset prices, the risk of excessive, we expect that monetary policy will be returned to ‘moderate liberal’ intent, the relevant departments will be through open market operations, window guidance, the risk of prompt, standardized approach to credit behavior flexible and fine-tuning. “Report of person in charge, chief economist of Bank of Communications said Lianping.

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