Home>News Center
       
 

Economic growth on stable upward curve
By Zhang Dingmin (China Daily)
Updated: 2004-11-17 00:54

China's economic growth will relent but stay on a stable upward curve in the fourth quarter of the year, the central bank said Tuesday.

It will enable the State's macro management targets to be met.

However, the People's Bank of China (PBOC) says macro-management -- which has the goal of creating a more sustainable pace of economic growth -- is still at a critical juncture.

The bank has pledged to maintain its prudent monetary policy stance.

"Currently, macro-management is in a critical stage. We need to continue to closely watch the trends in various price indices and prevent investment growth from rebounding, so as to safeguard and build upon the achievements of macro-management," the PBOC said yesterday in its third-quarter monetary policy release.

Observers are watching China's progress in its efforts to bring the fast-growing economy down for a soft-landing.

The authorities have taken a slew of measures to harness the more than one year of frenzied fixed investment and loan growth, which many fear may finally push already accelerating prices to unbearable levels and erode economic growth.

But as the tightening measures took hold this year, with money and investment growth sliding more abruptly than expected, worries emerged that economic growth could drop off dramatically.

The PBOC did not provide a specific forecast for full year gross domestic product growth in yesterday's report, but other official sources said it would be no lower than 9 per cent.

The economy grew by 9.5 per cent in the first three quarters of the year, which was 0.6 percentage points greater than the same period last year.

Consumption, a key driver of economic growth, will deliver strong support in the fourth quarter, with Chinese residents expecting their incomes and expenditures to rise, the PBOC said.

Its third-quarter survey of urban depositors found the Future Income Confidence Index was sitting at 17.4 points, up 1.8 points from the previous quarter and 1.4 points from a year earlier.

And fixed investment, which many fear may drop too abruptly to undermine economic momentum, looks unlikely to seriously affect economic growth in the fourth quarter.

Fixed investment projects suspended or cancelled in this year's State-led consolidation only account for a meagre 5.9 per cent of all fixed investment, the bank said.

"The enthusiasm to expand investment remains high across the country, and there is a possibility that fixed investment growth may rebound," the PBOC said.

The report said consumer prices will ease off a bit in the fourth quarter, but warned data in the first three quarters has shown little sign that inflationary pressures had been alleviated noticeably.

The expected increase in grain supplies will help contain rises in prices, the major forcing driving this year's consumer price index (CPI) inflation -- but the increases in producer price index will eventually be passed onto the CPI, it said.

"Our preliminary estimate is that the annualized CPI increase for the entire year will be around 4.1 per cent," the PBOC said.

The index, policymakers' key barometre for inflation, rose from 3.2 per cent in January to September's 5.2 per cent. The increase for the first three quarters was 4.1 per cent.

The central bank underlined higher inflation expectations among residents, citing its third-quarter urban depositors' survey which found that more than 40 per cent of residents expected prices to move up in the fourth quarter.

The central bank announced its first interest rate increase in nine years late last month, which analysts say was partly intended to alleviate a persistent erosion of consumers' quality of life.



 
  Today's Top News     Top China News
 

World leaders issue praise for Powell

 

   
 

Foreign investment soars in 10 months

 

   
 

Beijing sounds alarm on Taipei intentions

 

   
 

Survey finds 20,000 more HIV carriers

 

   
 

China plans to have 100 eyes in the sky

 

   
 

Self-ignited American man an FBI informant

 

   
  Survey finds 20,000 more HIV carriers
   
  Beijing sounds alarm on Taipei intentions
   
  Hu visits Brazil space institute
   
  Weiqi chief caged for people smuggling
   
  Referendum motion `undermines harmony' in HK
   
  Cities plan intercity transit system
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  Related Stories  
   
G7 finance ministers confident about economic outlook
   
China predicts 9.3 percent economic growth
   
World Bank: Soft-landing in economy likely
   
World Bank: Soft-landing in economy likely
   
Private sector drives Beijing's development
   
US economy grows at 3.7% annual rate
   
New efforts needed to cool economy down
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 成人人观看的免费毛片| 欧美精品国产综合久久| 无码人妻丰满熟妇区bbbbxxxx | 免费一区二区三区四区| 老阿姨哔哩哔哩b站肉片茄子芒果| 国产欧美色一区二区三区| 中文字幕人成无码免费视频| 最新电影天堂快影eeuss| 免费大片在线观看网站| 青草青青视频在线观看| 国精产品一区一区三区有限公司| 久久国产成人精品国产成人亚洲 | 国产在线国偷精品产拍| sss欧美华人整片在线观看| 岛国免费在线观看| 久久se精品动漫一区二区三区| 欧美金发大战黑人video| 公车上的奶水嗯嗯乱hnp| 天天综合色天天桴色| 国产香蕉国产精品偷在线| gogogo高清在线播放| 婷婷激情五月网| 久久精品一本到99热免费| 欧美va亚洲va在线观看| 亚洲妇女水蜜桃av网网站| 精品国内自产拍在线视频| 国产精品WWW夜色视频| 一级片在线播放| 日韩美女片视频| 亚洲综合天堂网| 色综合久久久久久久久久| 国产美女在线看| 一级毛片不卡免费看老司机| 收集最新中文国产中文字幕| 亚洲日韩精品欧美一区二区| 精品少妇人妻av无码专区| 国产乱子伦一区二区三区| 2019国产麻豆剧传媒视| 国产麻豆精品久久一二三| 99精品在线免费观看| 成人午夜视频在线观看|