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Staying on Target (5)

(Beijing Review)

14:03, August 22, 2012

The whole year

Experts predict the economic situation in the second half will be better than the first and the GDP growth is likely to be more than 8 percent.

"The general trend of Chinese economic development has not changed," said Zhu Baoliang, a researcher at the State Information Center. Zhu predicted that Chinese economic growth will pick up in the third quarter and continue to grow in the fourth quarter.

Lian also said economic growth will see an upturn in the third quarter because of four factors: recovering export growth alleviating worries of a rapid economic downturn; recovering growth of investment in real estate and infrastructure helping to stabilize growth of fixed-asset investment; policy stimulus and slower growth of prices will be conducive to the stable growth of consumption; and the financial sector is offering bigger backup to the real economy.

Zhang said this year's economic situation will see "a drop in the first half but stability in the second half."

The way in which policies of stabilizing economic growth are implemented will be decisive to the outcome of the second half, said Zhang. He suggested that structural tax reduction policy continue to be carried out to alleviate tax burdens on enterprises. Prudent monetary policy should be continued so as to sustain a reasonable financing scale. Credit structure should be further optimized to better satisfy the demand of the real economy.

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