China could maintain 6.9 per cent growth in second half of year, central bank chief says
Economic indicators suggest ‘stabilised and stronger growth’, Zhou Xiaochuan says ahead of the release of third-quarter GDP figures
The 6.9 per cent economic growth China recorded in the first six months of the year “may continue in the second half” as a number of indicators suggest “stabilised and stronger growth”, according to the governor of the central bank.
Imports and exports increased rapidly, fiscal income grew and prices have been steady, Zhou Xiaochuan was quoted as saying in a statement released on Saturday on the People’s Bank of China’s website after he attended meetings of global finance chiefs this week in Washington.
The effects of deleveraging were showing, and China would monitor and prevent risk in shadow banking and real estate, he said.
“Positive progress has been achieved in economic transformation,” the statement said. “China will continue to pursue a proactive fiscal policy and a prudent monetary policy, with a comprehensive set of policies to strengthen areas of weakness.”
Zhou’s comments come before the release of third-quarter gross domestic product figures, which are expected to be released on Thursday.