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Chinese Central Banker Confident on Current Growth

China’s economic growth in the first quarter of the year is at a reasonable level and the country will maintain its macro-economic policies, the central bank said Sunday in a statement.

“China’s economy witnessed a steady beginning in the first quarter, and the year-on-year growth at 7.7 percent is in a reasonable range,” the People’s Bank of China cited governor Zhou Xiaochuan as saying at a meeting of the International Monetary and Financial Committee, the IMF’s policy-setting arm.

Facing global economic uncertainties, the Chinese government has enhanced macro-economic control and attached great importance to structural reforms, Zhou said.

He said the country is going to maintain its proactive fiscal policy and prudent monetary policy to boost economic growth and keep prices stable.

China’s economic annual growth in 2012 eased to 7.8 percent, the weakest level since 1999, due to volatile external markets and the government’s domestic tightening to tame property prices and inflation.

The country has set its growth target for this year at 7.5 percent.

via Xinhua [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
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
Alfonso Esparza

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