日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

Economic recovery firmly underway

By ZHOU LANXU | China Daily | Updated: 2021-02-11 08:09
Share
Share - WeChat
Consumers browse festive items at a shopping mall in Beijing on Tuesday. [Photo by Yan Yichen/for China Daily]

China's economy remains on a solid track to recovery as price levels picked up while corporate borrowing increased last month, experts said on Wednesday.

But the recovery in consumption and the services sector remained subdued in January, underlining the necessity of more structural policy support and making any sharp tightening in monetary policy unlikely, they said.

Backed by recovering domestic demand and rising commodity prices globally, the growth in China's producer price index, which gauges factory-gate inflation, turned positive for the first time in 12 months, coming in at 0.3 percent year-on-year last month, the National Bureau of Statistics said on Wednesday.

The strong financing demand from corporations and households also indicated a sustained economic recovery. China's new yuan-denominated loans totaled 3.58 trillion yuan ($555.4 billion) in January, up 225.2 billion yuan year-on-year, the People's Bank of China, the central bank, said on Tuesday. Experts said it was the largest-ever new yuan loan amount for January.

"The latest data show that recent local COVID-19 cases have not impeded the overall recovery of China's economy, and economic growth may speed up substantially in the coming months," said Tang Jianwei, chief researcher at the Bank of Communications' financial research center.

As the economy continues to recover and buoy production activity, the growth in the producer price index is expected to further accelerate, Tang said.

The prospect of steady recovery has helped lift investor confidence, experts said. Foreign direct investment into the Chinese mainland, excluding the financial sector, expanded by 4.6 percent year-on-year in actual use to 91.61 billion yuan in January, the Ministry of Commerce said on Wednesday.

Chinese onshore equities leaped on Wednesday, with the benchmark Shanghai Composite Index rising 1.43 percent to close at 3655.09 points, the highest level in five years, according to market tracker Wind Info.

Yet experts said China's economic recovery remained unbalanced as consumption and the services sector lagged, partly attributable to the local COVID-19 cases and slower household income growth due to the virus.

The consumer price index, a gauge of consumer inflation, declined 0.3 percent year-on-year in January, compared with a 0.2 percent increase in December, the NBS said.

Wu Chaoming, chief economist at Chasing Securities, attributed the decline in consumer prices mainly to a high comparison base last year and the local COVID-19 cases that slowed the recovery in offline services like transportation and entertainment.

A negative core CPI reading has implied that consumption demand remained weak as personal income growth slackened, Wu said, adding that the CPI growth is expected to remain low in the short term before recovering to about 1.5 percent for the whole year.

The core CPI, which better reflects true demand by excluding volatile food and energy prices, dropped 0.3 percent year-on-year last month, versus a rise of 0.4 percent in December, the NBS said.

The low CPI figures have provided further evidence that there is no need to be too concerned about the potential for a sudden or sharp tightening of monetary policy, said Lu Ting, Nomura's chief China economist.

"We expect no sharp shift in policy, especially before COVID-19 is eradicated," Lu said.

Given that consumption recovery remained sluggish while the uncertainty of export growth may increase this year, policies to boost consumption will be essential for China to sustain a steady recovery, said En Xuehai, China International Fund Management's group chief investment officer of asset allocation and retirement fund investment.

Xinhua contributed to the story.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 五月婷婷亚洲 | α片毛片 | 欧美日韩在线播放一区二区三区 | 免费成人在线网站 | 九一国产精品 | 亚洲视频在线观看免费视频 | 国产区视频在线观看 | 色婷婷综合网 | 91看片免费看 | 国产不卡在线观看视频 | 国产91在线 | 欧美 | 五月缴情 | 日本看片一区二区三区高清 | 精品一区二区三区免费看 | 亚州中文字幕 | 五月婷婷婷婷 | 四虎永久 | 亚洲综合首页 | 丁香六月啪 | 久久国产高清视频 | 毛片基地免费视频a | A片欧美乱妇高特黄AA片片 | 电家庭影院午夜 | 玖玖精品在线观看 | 亚洲九九| 成人激情视频在线观看 | 一级视频片 | 久久亚洲欧美成人精品 | 好爽~好硬~好紧~蜜芽 | 国产美女视频网站 | 妞干网免费在线观看 | 无遮挡一级毛片私人影院 | 欧美日韩国产在线播放 | 亚洲精品在线播放视频 | 成人永久福利免费观看 | 日本高清在线看片免费视频 | 综合天天 | 一个人看aaaa免费中文 | 99久久免费视频在线观看 | 欧美日韩成人一区二区 | 欧美地区一二三区 |