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Strategies & Market Trends : Greater China Stocks

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From: Julius Wong	7/14/2010 10:25:10 PM
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China’s Growth Eases to 11.1% in First Half From Year Earlier By Bloomberg News July 15 (Bloomberg) -- China’s economic growth eased to 11.1 percent in the first half after the government succeeded in tempering credit expansion, investment spending and property speculation. The pace compares with an 11.9 percent gain in January- March from a year earlier. Inflation cooled to 2.9 percent in June, the statistics bureau also reported in Beijing today. Industrial output rose a less-than-estimated 13.7 percent. The figures signal a diminishing risk of economic overheating, and give Premier Wen Jiabao more room to scale back restrictions on bank lending in coming months. A deeper downturn in the nation forecast to account for one third of global growth this year would compound risks for a world recovery already clouded by European budget cuts and limited American job gains. “Easing inflation pressure and moderating economic growth make it difficult to justify continued tight credit controls,” Wang Qing, a Hong Kong-based economist at Morgan Stanley, said before today’s release. The “most stringent” property controls may also be adjusted if needed, he said. Economists’ median estimates were for an 11.1 percent expansion in the first half, including a 10.5 percent gain for gross domestic product in the second quarter. Bloomberg News surveys also indicated June inflation of 3.3 percent and industrial production growth of 15.1 percent. In May, consumer prices rose 3.1 percent, the fastest pace in 19 months. Read more noir.bloomberg.com

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