Facebook Twitter 新浪微博 google plus Instagram YouTube Monday, Dec. 14, 2015

Six rounds of RRR reduction expected in 2016: analyst

By Yuan Can (People's Daily Online)    16:52, December 14, 2015

(File photo)

The People's Bank of China (PBoC) is expected to cut interest rates by 50 basis points and to reduce the reserve requirement ratio (RRR) six times, an analyst commented about the latest statistics released by China's National Bureau of Statistics (NBS).

In November, the industrial added value increased 6.2 per cent year-on-year, higher than expected, 0.6 percentage points faster than last month, according to the latest statistics released by the NBS.

Increase in industrial sector is mainly due to growth in auto manufacturing industry, said Jiang Yuan, senior statistician from the NBS.

Stimulated by preferential tax on vehicle purchases and recovery of manufacturing, auto manufacturing added value increased 13 per cent year-on-year in November, 5.7 percentage points higher than that in October. Meanwhile, consumption increased by 11.2 per cent in November.

"It is easy to see from the trend that relevant policies gradually take effect and the economy is in an upward trend," said Sheng Laiyun, spokesperson of NBS in an interview before the release of November’s macroeconomic data. Sheng is confident that China will fulfill its 7 per cent growth target in 2015.

However, decrease in real estate investment arouses doubts among analysts that the economic stabilization may not continue.

China's economy still has not bottomed out. It will continue to slow down and the economy might bounce up by the end of 2017 after the economic reform, according to Zhu Baoliang, chief economist of the National Information Center.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Yuan Can,Wu Chengliang)

Add your comment

Related reading

We Recommend

Most Viewed


Key Words