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China’s economy will perform better in the next half year

(People's Daily Online)    16:10, July 20, 2015
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China's economy may enter a medium-to-high speed growth period in 2015 and 2016, said Lian Ping, Chief Economist of Bank of Communications, in an od-ed published on People's Daily on July 20, 2015.

According to Lian Ping, China's economy will grow steadily in the next half of this year, due to the following factors: firstly, China's exports growth will pick up in the next half year and the net exports will give strong impetus to economic growth; secondly, the investment in infrastructures still maintains a relatively high growth rate, which will hedge the slowing investment in manufacturing industry and real estate, and the fixed investment growth will recovery slightly from the first half year; and thirdly, in the next half year, the price level will remain low and the growth of consumption and household income will be faster than GDP growth, so consumption will grow steadily due to favorable base effects and the warming up of real estate transaction.

In terms of finance, in the next half year, the aggregate financing will maintain a steady growth. As borrowing cost decreases significantly, the monetary environment will be more relaxed and the liquidity will be sufficient.

Lian Ping predicted that along with the accumulation of positive factors, China's economy of 2015 may grow steadily, with the GDP growth of the third and fourth quarter being respectively 7.1 percent and 7.2 percent and the GDP growth of 2015 about 7.1 percent.

China's economy may enter a medium-to-high speed growth period in 2015 and 2016. And China's economy is capable of maintaining a 7 percent to 8 percent growth before 2020, said the economist. 

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Kong Defang,Bianji)

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