China's People Bank sees no signs of rebound in third quarter of 2012
Beijing, Sept. 23 (ANI): The Chinese economy is showing no signs of rebounding in the third quarter, and domestic investment is unlikely to expand dramatically in the short term, Song Guoqing, an adviser to the People's Bank of China, has said.
He also said he expected the country's economy needs to expand at around 7.5 percent this year.
According to the Wall Street Journal, China's gross domestic product grew 7.6 percent in the second quarter compared with a year earlier, down from the 8.1 percent expansion in the first quarter and marking the slowest pace in more than three years.
China's economic growth has long depended on investment, spending on projects such as infrastructure or added manufacturing capacity, rather than consumption, the report added.
Song said the government recently has stepped up its approval of new infrastructure projects, but warned that tight monetary conditions in the country, with cautious bank lending and fiscal spending, will likely hamper overall investment. (ANI)
Read More: World Bank | China | Bank Street | Bank Bazar | Bank Road | China Nandigama | China Garlapadu | State Bank Colony | Vennar Bank So | Reserve Bank Building | Reserve Bank Nm Ltd. | Rose Bank Ndso | Jalpaiguri Bank . | Red Bank | Song | Bank | China Dhab | Mohana Bank | Right Bank Tenughat S.o. | Akabarpur Bank
Why did Neil Nitin Mukesh and Sonal Chauhan part ways?
May 25, 2013 at 11:46 AM
3 DIED AND 1 INJURED IN CAR -TRUCK MISHAP
May 25, 2013 at 11:34 AM
CRITICS CALL PREITY___S FILM CLICH__ BUT FANS GIVE HER THUMBS UP
May 25, 2013 at 11:21 AM