Standard Chartered Bank: Slowing growth in the second half of China's economy

Affected by the tightening policy of the property market, in addition to the reduction of new infrastructure projects, the slow global recovery, the risk of a double-dip recession "Caixin net" (Intern Hu Yiting 8th from Hong Kong) July 7 Standard Chartered Bank announced the second half of the economic outlook forecast that China's economic growth will slow, GDP growth will be from the first quarter of 11.9%　　Fell to 8%, with an annual increase of around 10%. Standard Chartered said China's slowdown would be more pronounced early next year, when GDP could fall below 8% per cent, mainly on the basis of tighter real estate policies and a reduction in new infrastructure projects.　　As economic growth slows, the pressure on the renminbi to appreciate will also be eased. Since April this year, the central government has intensified its efforts to control the property market, and developers are unwilling to reduce sales.　　Whether the central government will relax its regulatory measures at the end of the year, Huang, Asia economist at Standard Chartered Bank, said it was unlikely and expected a 20%-30% drop in prices in first-tier cities. StanChart said the global economic recovery is slow and the risk of a double-dip recession in the second half is still, but not inevitable. The US economy is recovering less than expected and the job market is weak, and the Fed may not raise interest rates in the third quarter. Europe is affected by the debt crisis, with interest rates likely to be almost nil by 2011.　　Earlier at the G20 summit, more countries said they would tighten fiscal measures sharply in the second half of the year. Hong Kong's exports are also affected by the European debt crisis. 7th, the University of Hong Kong announced in the third quarter of 2010 macroeconomic forecasts, the second half of the year, Hong Kong exports will have a certain reduction, but by the mainland economy, the three-quarter increase will remain around 5.3%.