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

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.