China's GDP likely to grow 6.8 pct in Q1: think tank

Updated 2017-03-30 09:01:26 Xinhua

China's economy is likely to grow by 6.8 percent year on year in the first quarter of the year as production activities and investment picked up, according to a Chinese government think tank report Wednesday.

The firming trend in the fourth quarter last year has continued into the first quarter of 2017, according to the National Academy of Economic Strategy (NAES), citing a huge rise in factory-gate prices, rebounding corporate profits and increasing imports.

Consumer prices will rise by 1.4 percent in the first three months of this year, according to NAES, which is affiliated to the Chinese Academy of Social Sciences.

“Despite downward pressure, China's economy has been operating in a good state,” said Wang Hongju, a researcher with NAES. “The focus of macro-economic policies should be put in supply-side restructural reforms to boost potential output in the long run.”

NAES estimated that China's economy would expand by 6.7 percent in the first half of the year as industrial production was likely to increase moderately in the second quarter, while investment would see slightly slower growth.

Consumption will grow steadily in the April-June period, but it will be difficult to find improvement in exports, according to the report.

The Chinese government trimmed its 2017 growth target to around 6.5 percent, the lowest in a quarter of a century.

The report said the Chinese government should guard against risks in the property and financial sectors by properly managing monetary and land supply “floodgates.”

To curb excessive growth in house prices in certain cities, except for purchase restrictions, the government should also work to improve market supply and keep monetary expansion under control, according to the report.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58January 23 2018 17:53:11

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16January 23 2018 17:53:11

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18January 23 2018 17:53:11

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords