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在线翻译:
szdaily -> Business
Battle against debt expected to slow second-quarter growth
    2017-July-13  08:53    Shenzhen Daily

THE economic growth of China is expected to have cooled to 6.8 percent in the second quarter as the government tightened the screws on financial risks, a Reuters poll showed.

The survey of 60 economists suggested government efforts to flush out property speculators, defuse asset bubbles and reduce high levels of debt across the economy will continue to chip away at growth from the first quarter’s robust pace of 6.9 percent.

The broad consensus is that the economy is entering a period of a gradual deceleration rather than a sharp downturn. And, solid exports could help cushion the impact from the deleveraging drive, economists said.

“The economy could slow due to combined effects of property controls and the deleveraging push, but we don’t expect a significant slowdown as exports improve,” said Tang Jianwei, senior economist at Bank of Communications in Shanghai.

Economists in the poll estimated gross domestic product (GDP) grew 1.7 percent quarter on quarter, versus 1.3 percent in the first quarter, though only 17 analysts gave sequential forecasts.

The first-quarter growth of 6.9 percent was the fastest in six quarters, driven by strong government infrastructure spending and a gravity-defying property boom.

In an environment of tightening financial conditions, economists say investment — a vital growth engine — may take a hit and put the brakes on growth.

Zhu Baoliang, chief economist at the State Information Center, a government think tank, said this week that he expected China’s growth to slow to 6.6 percent in the third quarter and 6.4 percent in the fourth.

Still, Zhu tipped the economy to grow 6.7 percent this year, ahead of the government’s target of around 6.5 percent.

China will release second-quarter GDP on Monday, along with June industrial output, retail sales and fixed asset investment.

June trade figures will be issued today, with exports seen up 8.7 percent last month from a year earlier — matching that of May, according to a separate Reuters poll.(SD-Agencies)

 

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