Chinese Economic Adviser Sees GDP Reaching 7.3 Percent

China’s economic growth may be as high as 7.3 percent this year, partly due to falling commodity prices, the official Xinhua news agency quoted an academic advisor to the central bank’s monetary policy committee as saying on Saturday.

Song Guoqing was also quoted telling a forum that China’s consumer price index may rise in 2015 by about 1.6 percent, saying the sharp decline in prices of commodities including crude oil, iron ore and copper presented “a large bonus” for the economy.

Xinhua said Song’s views were echoed by Ma Jun, chief economist of the People’s Bank of China’s (PBOC) research bureau.

 
The central bank had said in a report seen by Reuters in mid-December China’s economic growth could slow to 7.1 percent in 2015 from an expected 7.4 percent last year.

China’s annual economic growth likely slowed to 7.2 percent in the fourth quarter of last year, the weakest since the depths of the global crisis, a Reuters poll in early January showed, which would keep pressure on policymakers to head off a sharper slowdown this year.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza