BEIJING - China’s economy is expected to recover steadily in the rest of the year, boosted by stimulus measures to reverse the damage from the coronavirus crisis, but weak global demand and rising Sino-U.S. tensions are key risks, a Reuters poll showed on Friday.
But that pace would still be the weakest since 1976 - the final year of Mao Zedong’s Cultural Revolution. Manufacturing and construction have snapped back relatively quickly, thanks largely to a massive infrastructure push and a rebound in homebuilding. But the services sector has lagged, with the catering, hospitality and entertainment sectors struggling to get back to normal amid worries of a resurgence of coronavirus cases and cautious consumer sentiment.
Deteriorating relations between Washington and Beijing are also clouding the outlook, though a Phase 1 trade deal signed earlier this year still appears to be intact. Analysts expect China will lower its one-year loan prime rate by another 10 basis points to 3.75% by the end of 2020. It has been cut by 46 bps since last August.
“That should allow the PBOC to step back from easing and instead focus on the financial risks that have accumulated this year.”
Source: Financial Digest (financialdigest.net)
ROFL China is lying their asses off. Their economy is not growing and it is about to get much worse as the US and Europe start forcing their companies to manufacture their products outside of China.
I always thought that social unrest was supposed to kick off if growth fell below 8%. Stand by for repression!
China's economy may get worse. However, it is better than my country's and the weak economy of China and the US suggests concerns about the strength of the global economy...
Is CHINA still building more 'ghost cities' to keep the population from revolting and starving?
You sold out to China.
I hardly believe this is about US concerns over abuse of Muslims.
China may spring back ahead of others on strength of BRI. Whatever canards, lies and filth West spreads, BRI will be eco revolution uplifting poor in developing world. The 'free' loans of West, created permanent ghetto of slavery and misery all around world.
It is still higher than most countries had even before the pandemic.
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