Post Reply
1-2 of 2
I strongly believe China related stocks in SGX also all China stocks indice SSE . . . etc. will be bullish immediately after post PRC's NATIONAL DAY 2010 !
kiasiDBT ( Date: 01-Jul-2010 15:35) Posted:
|
Jun 30, 2010
BEIJING - CHINESE Premier Wen Jiabao believes the world's third-largest economy is moving in the 'expected direction', the government said on Wednesday, amid fears that it may be losing steam.
'The domestic economy is developing in the expected direction under the government's macroeconomic controls,' Mr Wen said during two days of meetings this week with economists and business executives.
The comments were posted on the central government's website ahead of the release of key economic data next month which is expected to show that economic growth slowed in the second quarter.
Mr Wen said policymakers must continue to strike a balance between maintaining stable and reasonably fast economic growth, carrying out economic restructuring and managing inflation expectations. 'The domestic and international economic situation is still extremely complex,' Mr Wen said. Mr Wen made no mention of the government's pledge earlier this month to pursue a more flexible yuan exchange rate. The currency has appreciated about 0.50 per cent against the greenback.
His comments came after Chinese President Hu Jintao, in a speech to the G-20 summit in Canada at the weekend, called for caution in exit strategies from economic stimulus programmes to safeguard the global recovery.
China's economy expanded by a blistering 11.9 per cent in the first three months of the year, fanning inflationary pressures and raising fears it was at risk of overheating. Royal Bank of Scotland economist Ben Simpfendorfer has forecast 11.1 per cent growth in the second quarter after government measures aimed at reining in the real estate sector and a slowdown in manufacturing activity. -- AFP
BEIJING - CHINESE Premier Wen Jiabao believes the world's third-largest economy is moving in the 'expected direction', the government said on Wednesday, amid fears that it may be losing steam.
'The domestic economy is developing in the expected direction under the government's macroeconomic controls,' Mr Wen said during two days of meetings this week with economists and business executives.
The comments were posted on the central government's website ahead of the release of key economic data next month which is expected to show that economic growth slowed in the second quarter.
Mr Wen said policymakers must continue to strike a balance between maintaining stable and reasonably fast economic growth, carrying out economic restructuring and managing inflation expectations. 'The domestic and international economic situation is still extremely complex,' Mr Wen said. Mr Wen made no mention of the government's pledge earlier this month to pursue a more flexible yuan exchange rate. The currency has appreciated about 0.50 per cent against the greenback.
His comments came after Chinese President Hu Jintao, in a speech to the G-20 summit in Canada at the weekend, called for caution in exit strategies from economic stimulus programmes to safeguard the global recovery.
China's economy expanded by a blistering 11.9 per cent in the first three months of the year, fanning inflationary pressures and raising fears it was at risk of overheating. Royal Bank of Scotland economist Ben Simpfendorfer has forecast 11.1 per cent growth in the second quarter after government measures aimed at reining in the real estate sector and a slowdown in manufacturing activity. -- AFP