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QINGDAO TODAY
在线翻译:
szdaily -> Business -> 
Economy to keep up recovery
    2020-06-18  08:53    Shenzhen Daily

CHINA’S economy will see continued recovery in the second half of this year amid a rebound in both investment and consumption, analysts said.

Economic activities will accelerate further in the second half, due to an increase in total social financing, said investment bank CICC in a research report.

Recovery in infrastructure and property investment will shore up growth in the second half, while consumption and exports are also likely to warm up as national income growth continues to improve, it said.

China’s economic activities are recovering, and the latest data on industrial output, retail sales and investment show an accelerated pace of resumption across the board.

Factory activities continued to pick up in May with value-added industrial output soaring 4.4 percent year on year, and the decline in fixed-asset investment narrowed in the first five months of 2020, official data showed Monday.

Retail sales of consumer goods, a major indicator of consumption growth, declined 2.8 percent year on year in May, rebounding from a drop of 7.5 percent in April.

China’s economic recovery is likely to continue in the second half, but it may face the headwinds of a potential second wave of COVID-19 outbreak and decoupling pressures, UBS analyst Wang Tao said.

Given the continued domestic demand recovery and stronger-than-expected exports in April-May, UBS expected China’s GDP to see positive growth in the second quarter, thereby revising its previous forecast.

China’s economy may grow 3 percent this year as the government ramps up policy support, said Zhang Ming, a researcher at the Chinese Academy of Social Sciences.

Gross domestic product could return to 2 to 3 percent growth in the second quarter as factories step up production, Zhang said in a forum Tuesday.

Zhang still expects the central bank to trim key interest rates, the Medium Lending Facility (MLF) and the Loan Prime Rate (LPR), while cutting the required reserve ratio (RRR) twice in the second half of the year.(Xinhua)

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