CHINA> News
![]() |
BOC signals continued liquidity
By Wang Yu and Bi Xiaoning (China Daily)
Updated: 2009-09-12 13:50 Bank of China's deputy head gave an optimistic outlook for China's growth next year while forecasting moderate global gains.
China's GDP will grow more than 8 percent next year as the world average fluctuates between 1.5 to 2 percent, Zhu Min, group executive vice-president of Bank of China, said at the Dalian Summer Davos forum yesterday.
But he noted potential bubble markets in real estate, commodities and stocks. In contrast there is a danger of deflation in the industrial segment as profits of various industries are dropping, Zhu said. He noted that industrial projects require more investment, so bank loans in the second half of this year should be project-oriented and industry-driven. Zhu asserted that it is still too early to worry about excess liquidity since the world economy is far from an actual recovery. The senior banking official assured business leaders from both home and abroad that liquidity would not be withdrawn precipitously this year. "The economy is still fragile. Although there are some signs of recovery, liquidity is still needed," Zhu said. He implied earlier that a dramatic change in lending in the second half of this year is not likely after massive supplies of credit in the first six months. Stephen Roach, chairman of Morgan Stanley Asia, noted that China has done a good job thus far handling the global financial crisis, but instead of quantity growth, the country should now focus more on quality development. Zhu said that in the medium term, the Chinese industrial segment faces the challenge of overcapacity. In the long run, sustainable industries with environmental responsibility deserve more attention, Zhu added.
|
主站蜘蛛池模板: 河源市| 桐梓县| 永新县| 来宾市| 余姚市| 安岳县| 金川县| 柳州市| 九龙县| 巨鹿县| 株洲市| 贞丰县| 阿瓦提县| 菏泽市| 宾阳县| 湖南省| 昌图县| 电白县| 井研县| 乃东县| 昌都县| 麻江县| 通城县| 泸溪县| 宜昌市| 浮山县| 晋江市| 大足县| 涞水县| 西乡县| 康保县| 永仁县| 冷水江市| 鄱阳县| 牡丹江市| 陵川县| 夹江县| 瓦房店市| 阿鲁科尔沁旗| 抚松县| 兴和县|