www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Economy

China should accept slower growth

By XIE YU in Shanghai (chinadaily.com.cn) Updated: 2014-01-14 20:33

China's leadership is serious about reigning in credit and will probably allow a sharper growth slowdown, a report released by Credit Agricole Corporate and Investment Bank said on Tuesday.

"We forecast 2014 growth at 7.2 percent and expect even lower readings going forward," said Dariusz Kowalczyk, a senior economist and strategist for Credit Agricole CIB.

The reason for the forecast is that China's debt-driven growth model needs to change, Kowalczyk said. This has been acknowledged by the latest central bank's monetary policy report, which stated that deleveraging will be a protracted process. Lowering reliance on credit will be difficult given that the credit intensity of growth is rising, said the report.

China needs to accept a slower pace of expansion or risk a debt crisis in the next several years, Kowalczyk said.

An alternative would be transforming its growth model to one driven by consumer spending financed by income and savings, while such a transformation will take a long time, he added.

The institution expects the government to gradually lower growth targets to 7 percent in 2014 and 6.5 percent in 2015.

Having re-accelerated over the summer of 2013, growth momentum declined again in the fourth quarter of 2013 as the withdrawal of stimulus measures began. Industrial output growth eased and so did investment and government spending. Exports also decelerated. Business sentiment indexes for manufacturing and services softened.

New social financing growth stabilized at a much lower level than in the fourth quarters of 2012 and 2013, while the central bank guided money market rates higher, reducing the potential for expansion. Kowalczyk said he expects year-on-year GDP growth to have picked up to 7.9 percent in the fourth quarter of 2013, and predicted that it will stabilize at the same level in the fourth quarter of 2014.

...
...
主站蜘蛛池模板: 日韩毛片基地 | 性刺激久久久久久久久 | 欧美三级在线观看不卡视频 | 国产日韩在线观看视频 | 人妖欧美一区二区三区四区 | 国产精品日韩欧美在线第3页 | 亚洲午夜精品久久久久久抢 | 国产精品欧美亚洲 | 国产国语高清在线视频二区 | 久久亚洲精品成人综合 | 一区毛片 | 99久久www免费 | 亚洲美女视频网 | 成人久久18免费游戏网站 | 欧美性色黄大片www 欧美性色黄大片一级毛片视频 | 日韩精品一区二区三区 在线观看 | 久久免费国产视频 | 最新久久免费视频 | 日韩欧美国产精品 | 国产网站免费在线观看 | 欧美一区二区三区免费播放 | 亚久久伊人精品青青草原2020 | 国产成人综合精品 | 精品视自拍视频在线观看 | 中美日韩在线网免费毛片视频 | 久久一区二区精品综合 | 91精品国产91久久久久青草 | 91精品欧美综合在线观看 | 动漫精品一区二区 | 一级毛片免费在线观看网站 | 成人黄网大全在线观看 | 国产一区二区成人 | 国产精品黄在线观看免费软件 | 久草免费公开视频 | 看一级毛片一区二区三区免费 | 高清日本在线成人免费视频 | 极品精品国产超清自在线观看 | 欧美特级午夜一区二区三区 | a级一片 | 国产人成亚洲第一网站在线播放 | 成人亚洲精品777777 |