Latest News:  
Beijing   Cloudy/Overcast    12 / 5   City Forecast

People's Daily Online>>China Business

Chinese economy will become more stable in Q2

By Zhou Xiaoyuan (People's Daily Overseas Edition)

09:13, April 01, 2012

Edited and translated by People's Daily Online

The Bank of China has recently published the analysis report of Chinese macro-economic and financial situation in the second quarter of 2012. The report said that because of improved external environment and the regulation and control of Chinese government, China's economic growth in the second quarter will increase slightly. The report forecasted a growth of 8.4 percent in GDP and 3 percent in CPI.

The possibility of "hard landing" of Chinese economy is very small. An analyst said that although the growth rate of some economic indicators keeps decreasing in the first quarter this year, the economic situation of the second quarter is expected to become stable.

Growth rate declines in Q1

According to data recently published by the National Bureau of Statistics, the total profits of state-level and above industrial enterprises reached 606 billion yuan in January and February 2012, dropping 5.2 percent year-on-year. The profits of state-owned enterprises have decreased by almost 20 percent year-on-year. It is the first negative growth of industrial enterprises since November 2009, triggering worries that the Chinese economy will once again fall into depression after rebound in the fourth quarter 2011.

Peng Wensheng, chief economist of China International Capital Corporation Limited, said that judging from the data of consumption, investment and trade, the gross demand will further slow down. The growth rate of GDP in the first quarter 2012 is predicted to decrease to 1.6 percent from the 2 percent of the fourth quarter 2011, lower than the expected 1.9 percent. The year-on-year growth rate may decrease to about 8.5 percent, lower than forecasted 8.7 percent.

【1】 【2】


Leave your comment0 comments

  1. Name


Selections for you

  1. Original photography narrates city fairy tales

  2. Tanya's haute couture collection released

  3. Forest fire under control in SW China's Yunnan

  4. Paper iPads popular for Tomb-sweeping Day

Most Popular


  1. Anelka cannot save Chinese football
  2. Quick stop to good progress in N.Korea
  3. EU urged to do Chinese companies justice
  4. A hard-earned, favorable turn for Syria issue
  5. BRICS mulls joint bank
  6. How far away are we from nuclear terrorism?
  7. Benefits, not values, define BRICS unity
  8. China slams Japan's move over Diaoyu Islands
  9. More efforts needed for enhancing nuclear security
  10. Chinese solar companies to fight US tariffs

What's happening in China

Foreign students in China make Qingming festival food

  1. China's March PMI rises to 53.1 pct
  2. Chinese cities dim lights in environmental initiative
  3. Qinghai to invest heavily in grassland recovery
  4. Chinese film studio joins hunt for fugitives
  5. China's Suning 2011 net profit up 20 pct

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai