ZCZC
BCN-14
CHINA-ECONOMY-GROWTH-H1
China’s economy predicted to expand 6.7 pct in H1
BEIJING, July 9, 2018 (BSS/Xinhua) — China’s economy is predicted to
expand 6.7 percent in the first half of 2018, slightly retreating from the
growth seen in the first quarter but showing continued resilience, according
to forecast by financial institutions and economists.
Despite some external uncertainties, China’s economy has extended an
improving trend on the back of the global economic recovery, rising new
growth momentum and a warming property market, said a report released by the
international financial research institution with the Bank of China.
Lian Ping, chief economist of the Bank of Communications, also forecast
growth of 6.7 percent.
In the second quarter, the contribution of consumption and investment to
economic growth may come in at 70 percent and 35 percent, respectively.
Although net exports made negative contribution to growth, the fast growth of
exports helped pull up manufacturing production and investment, according to
Lian.
For the outlook in the second half of the year, chief economist of CITIC
Securities Chu Jianfang believes there will be no big risk of recession and
the economy will remain resilient, citing rising industrial investment,
steady infrastructure investment and warming external demand.
The Chinese economy registered 6.8-percent growth in the first quarter.
China is scheduled to release a string of economic data including GDP
growth for the second quarter on July 16.
BSS/XINHUA/HR/1150