Sign in | Join us  
      
 Popular Searches:diamond,cbn,tuck point blade,cup wheel,saw blade, brown fused alumina
Home -- Information


  Featured Companies
 • Yantai Cct Metal…
 • Dymend Tools Co.,…
 • Henan Boreas New…
 • Yancheng Xiehe Machinery…
 • EKF Industrial Supplies…
 • Ruishi New Material…
 • MORESUPERHARD
 • Henan Banner New…
 • Zhengzhou best synthetic…
 • Zhengzhou Haixu…

 Print  Add to Favorite
Custom your font size:     

Slow growth may spur more support


Post Date: 15 Sep 2015    Viewed: 721

China's economic growth failed to rebound in August as expected, signaling that the central government may have to introduce more support measures.

The National Bureau of Statistics said on Sunday that industrial output, the main monthly growth measure, rose to 6.1 percent year-on-year last month, up from 6 percent in July, but short of expectations of 6.5 percent.

On Friday, Premier Li Keqiang sent a message to the world at the "Summer Davos" forum in Dalian, Liaoning province, that a slower growth rate is acceptable unless there is turbulence in the job market. Measures introduced to date are sufficient to prevent an economic "hard landing".

In an attempt to inject long-term growth momentum into large State-owned enterprises, the State Council, or the Cabinet, has released a guideline on further reforming their ownership and stimulating market vitality.

Fixed-asset investment increased to 10.9 percent in the first eight months compared with a year earlier, slower than the 11.2 percent from January to July.

Retail sales rose by 10.8 percent in August, compared with 10.5 percent in July, the bureau said.

An independent calculation by Bloomberg shows that China's GDP growth rate may have been 6.6 percent in August, unchanged from July, but slower than the 7 percent in the first six months, said Tom Orlik, an economist at the news agency.

According to the statistics bureau, in the first half of this year the number of jobs grew by more than 7.18 million, compared with the target of 10 million set for the year.

However, the manufacturing and service purchasing managers' indexes released earlier showed employment contracting last month.

Qu Hongbin, chief China economist at HSBC Holdings, said a long-term economic slowdown is harmful to companies' confidence, which may lead to a wave of bankruptcies and sharply reduce job opportunities.

"Industrial production faces a grim situation, requiring more policy easing," Qu said. He expects infrastructure construction and real estate growth to speed up, which may support a modest economic rebound.

The statistics bureau also said that in the first eight months, real estate sales continued to strengthen, showing 8 percent year-on-year growth. However, the booming sales have not stimulated investment in the sector. The amount of new property being built has fallen by 17.9 percent, the bureau said.

Economists said there is still room to strengthen policies. More government spending is expected on roads, waterworks and other public projects, which can offset the slowdown in capital spending on real estate and manufacturing, they said.

Measures to stabilize growth should not delay the ongoing transformation from an export and investment-driven growth model to one dominated by service and consumption, they said. 


Superhard Material of China

Superhard Material of China

Abrasives and Grinding Products of China

Abrasives and Grinding Products of China

Coated Abrasives of China

Coated Abrasives of China

Chia International Abrasives & Grinding Exposition

China International Abrasives & Grinding Exposition

Home | About Us | Members | Contact | Advertising Quotation
Supported by Yuanfa Information Technology co.,Ltd
Copyright ©Abrasivesunion 2006. All rights reserved
Page rendered in 0.0233 seconds
增值电信业务经营许可证:豫B2-20202116  ICP备案:豫B2-20100036-2