The mainland's economic growth is expected to rebound in the second half of this year, buoyed by more rapid infrastructure investments, according to the chief economist of the Bank of Communications.
Lian Ping said gross domestic product would rise 8.1 to 8.5 per cent between July and December.
'For the third and fourth quarters, the GDP growth rate will be higher than quarter one and two. But compared with last year, it will be a little bit slower,' he told about 200 delegates to a Journal of Commerce container shipping conference in Shanghai yesterday.
Lian, who is also general manager of the bank's research and development department, said: 'GDP growth this year will be no lower than 8 per cent.'
After growing 8.1 per cent in the first quarter, he said growth in the second quarter would be slower at 7.8 per cent.
A faster pace of economic growth in the second half could be fuelled by an easing of controls on bank lending and a boost in infrastructure spending, Lian said, but he ruled out any repeat of the 4 trillion yuan (HK$4.54 trillion) stimulus package that followed the global financial crisis in 2008. 'This year is different from 2009. Banks won't have the same financing capacity.'