Latest News:  
Beijing   Overcast/Cloudy    28 / 22 ℃  City Forecast

Home>>China Business

Report: Chinese economy to outperform Asian rivals

(Shanghai Daily)

14:05, June 26, 2012

China's economy is weakening but it will keep expand at a faster rate compared to other Asian countries while the yuan will remain a safe heaven for investors, Crédit Agricole CIB said in a report published Tuesday.

Asia is experiencing a clear slowdown as a result of the recession in the eurozone and a significant weakening of growth in China, the investment banking division of Crédit Agricole S.A. said. The French lender said it expects GDP growth in Asia to fall from 7.3 percent last year to 6.6 percent in 2012.

The region would perform even worse without China, even though the world's second biggest economy is also loosing steam. Excluding China, Asia's economy would only pick up 5.3 percent this year, it said. India, Malaysia, Vietnam and Thailand may find it challenging to meet GDP growth targets, the lender said.

The downside risks of the Asian foreign exchange market will prevail until China successfully stimulates its economy, or a solution to the eurozone fiscal crisis is in sight. Meanwhile, the yuan will remain a safe heaven, and yuan-denominated bond yields will pick-up, the lender said.


Leave your comment0 comments

  1. Name


Selections for you

  1. S. Korea holds military exercise in Chungcheong

  2. 4th Minorities Art Festival kicks off in Beijing

  3. Strong downpours batters Jiangxi province

  4. "Running on high heels" race held in Romania

Most Popular


  1. Property necessary pill for economy
  2. Chinese banks must go global
  3. Putin's visit to Israel more symbolic than strategic
  4. Syria's new government faces escalation of tension
  5. Trade is tool to fix global economy
  6. Skyscraper frenzy brings loan risks to new heights
  7. China to 'maintain 8% growth for over 20 years'
  8. Larger labor force not a panacea for pension woes
  9. "China Containment theory" has no market
  10. Benefits of direct yen-yuan may be few, far between

What's happening in China

Painters' village attracts many professional painters

  1. Cut in fuel prices expected
  2. China stocks slump on lingering eurozone worries
  3. Addicts find path back to normal life can be tough
  4. Wage growth slows amid economic uncertianty
  5. Sea environment worsening: data

China Features

  1. Eurozone should move forward or it will fall over
  2. Food safety rumors have significant social impact
  3. Life in drug rehabilitation center in Hebei
  4. China's first private Perfume Museum
  5. Mengshan Mountain Giant Buddha

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