In view of the newly-released key economic indicators for the first half of the year, domestic and overseas investment banks have revised their projections for China's GDP growth for 2009.
The National Bureau of Statistics announced on July 16 that China's economy expanded by 7.1 percent in the first half of the year from a year earlier, beating expectations. GDP grew 7.9 percent in the second quarter, 1.8 percentage points higher than the growth in the first quarter.
Following are the latest projections made by some investment banks on China's full-year economic growth in 2009:
Citic Securities: revised the 2009 economic growth?projection?from 8.2 percent to 8.8 percent; and raised its projection for next year from 9 percent to 10.1 percent.
Remarks: "Stimulated by the expansionary fiscal policy and loose money policy, China's economy has started strong recovery."- by Zhu Jianfang, chief economic of Citic Securities
Morgan Stanley: revised up the full-year GDP growth for 2009 to 9% on July 16.
Remarks: "China's active policies will likely continue to support rapid investment growth in the second half year. Property investment will pick up in 2010 and partially offset slowing infrastructure investment."-by Wang Qing, chief economic of Morgan Stanley China.
Merrill Lynch: "Most institutions will likely raise their projections for China's 2009 economic growth to 8% or above."- by Lu Ting, economist of Merrill Lynch (Asia Pacific)
"In view of the latest data, China has a great possibility to realize its 8 percent growth target. The economic recovery will lure investors to China-related funds and assets. Hot money may also flow back."-also by Lu Ting
Goldman Sachs: revised full-year projection to 8.9 percent from 8.3 percent.
Remarks: "Some investors may be skeptical of the reliability of China's GDP figure, but there is no doubt that the overall economy is growing vigorously. Surging power consumption is another indicator."-by Song Yu, economist on China macro economy at Goldman Sachs.
For more information, please consult the complete Chinese story here:
http://stock.hexun.com/2009-07-21/119761215.html
(China.org.cn July 21, 2009)
