男友太凶猛1v1高h,大地资源在线资源免费观看 ,人妻少妇精品视频二区,极度sm残忍bdsm变态

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

Regional growth forecasts mapped out

By Jing Shuiyu in Beijing and Shi Jing in Shanghai | China Daily | Updated: 2019-01-16 09:06
Share
Share - WeChat
Railway employees make preparations prior to the departure of a CR200J Fuxing high-speed train in Beijing. [Photo by Huang Liang / For China Daily]

Several Chinese provinces and municipalities have released economic forecasts for last year's growth, and some of them downgraded their economic prospects for this year amid the expected global downturn.

But economists said as the country makes its monetary and fiscal policy more accommodative, growth in the world's second-largest economy could stop slipping and start to pick up in the second half of this year.

Gross domestic product in East China's Jiangsu province is predicted to climb 6.7 percent to 9.2 trillion yuan ($1.36 trillion) last year, Wu Zhenglong, governor of Jiangsu province, said while delivering the annual provincial government work report.

If it were, Jiangsu's economic scale would exceed that of Australia in 2017, the world's 13th-largest economy.

The GDP of southwestern China's Sichuan province is expected to exceed 4 trillion yuan at a growth rate of 8 percent, said Yin Li, governor of Sichuan, in the annual local government work report.

Beijing forecast its economic scale would exceed 3 trillion yuan last year, at an estimated 6.6-percent growth rate, according to Beijing Municipal Commission of Development and Reform.

The capital city, however, set a lower economic growth target range of 6 to 6.5 percent in 2019, according to the commission. That is compared with last year's target of about 6.5 percent.

Tianjin set its GDP growth target at 4.5 percent in 2019, down from last year's target of 5 percent.

These areas cut their forecast for economic growth as the global economy is expected to slow down and weigh on domestic growth. The World Bank said in its latest report on the global economic outlook that it expects the world economy to grow by 2.9 percent this year, down from the 3 percent it forecast in June. It cited rising trade tensions, weakening manufacturing activity and growing financial stress in emerging-market countries.

The report estimated that China's economic growth would slow to 6.2 percent this year from 6.5 percent last year as domestic and external rebalancing continues.

Qu Hongbin, chief economist of HSBC in China, said there will be a turning point in the country's monetary policy, somewhere in the coming months, given the increasingly downward pressure.

The central regulators will encourage financial institutions to loosen their credit policies especially for small and medium-sized enterprises as well as privately owned companies, while fiscal policies will become more proactive, Qu said.

"We can see that the central government is more concerned about economic development. In this sense, they will advance the implementation of policies to boost economic growth with greater efforts," he said.

Qu suggested that the government should start with a substantial and larger-scale tax reduction and expense cut to boost domestic consumption, which is a major driver of economic growth. The tax reduction volume could take up 1 percent to 1.5 percent of the country's GDP, as HSBC estimated.

With more support for infrastructure projects and loosened credit policies, China's economy is likely to pick up in the second half of 2019, said Qu.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 合阳县| 沾化县| 福泉市| 福建省| 石嘴山市| 噶尔县| 南投县| 垣曲县| 红河县| 大理市| 扶风县| 鹤岗市| 图们市| 怀化市| 黄平县| 呈贡县| 鲁甸县| 小金县| 宁河县| 崇左市| 鹿泉市| 江陵县| 东乡族自治县| 马边| 井陉县| 乐至县| 米脂县| 隆德县| 民乐县| 昌平区| 洛浦县| 东海县| 三河市| 海淀区| 全南县| 阳春市| 石景山区| 永寿县| 万源市| 金秀| 大城县|