As China's economy slows sharply, the industry reckons that China may not have double-digit GDP growth this year and that "Super Day" is no longer a "destiny", but there are institutions that are optimistic that China's economy will grow by more than 10% a year. According to foreign media yesterday, Wang Qing, chief economist of Greater China, Morgan Stanley, said the two-quarter growth rate of China's economy slowed 1.6% to 10.3% per cent year-on-year, not more than it had expected earlier this year, as the slowdown had been linked to a decline in stimulus policies and a "pre-low" growth base. In his view, China's economic slowdown in the third quarter may be faster, the three-quarter growth rate of about 10%, four quarter to 9% or lower, the annual GDP growth rate is still more than 10%, while the consumer price index (CPI) was expected to peak in July, the peak of about 3.5% to 3.6%, the annual CPI rose by about 3%. As inflation expectations weaken, Wang sees little likelihood of a central Bank rate hike, which continues to be implemented at $7.5 trillion a year, and says the current economic performance could provide room for policy fine-tuning, as the economy slows faster than expected. (Compile/journalist Morninghill-tone intern Yin Xiaolin)
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