China’s GDP rise may slow to 7% in Q1
Print Edition
CHINA’S economic growth may slow to 7 percent in the first quarter due to rising deflation risks, weakening investment and continued correction in the property market, the State Information Center said yesterday.
“China still faces downward economic pressure this year with the growth rate possibly moderating further in the first three months,” the center, a government think tank under the National Development and Reform Commission, said in a quarterly report.
The country’s gross domestic product grew 7.3 percent from a year earlier in the fourth quarter of last year.
“China is trying to accelerate economic reforms against the backdrop of an uncertain real estate sector, insufficient domestic demand and slower fixed-asset investment, which makes it hard to rebound,” the center said.
It predicted fixed-asset investment in the first quarter may rise 14.3 percent year on year, slowing from 15.7 percent in 2014, with the investment absorbed by the property sector gaining 7 percent.
Consumption may stay stable, with retail sales up 11.7 percent, compared with a 12 percent rise in 2014.
Exports may grow 5 percent in the first quarter but imports could drop 10 percent by value due to weak demand and lower commodity prices on the global market.
The Consumer Price Index, the main gauge of inflation, is set to rise 1.2 percent as deflation risks accumulate.
China may be beset by several issues like excessive production capacity, local government debts, high financing costs and rising financial risks this year, according to the center.
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