21 August 2009 14:42 [Source: ICIS news]
SHANGHAI (ICIS news)--China’s third-quarter GDP will grow by 8.5% year on year, mainly due to increased investment and improved demand from overseas amid the country’s fiscal stimulus packages and “moderately loose” monetary policy, according to a government report released on Friday.
Investment would become the most significant contributor to third-quarter GDP growth, surpassing both consumption and net exports, said the State Information Center (SIC) report, which was posted in China Securities Journal.
The real estate sector would be a major factor behind the investment growth, said the SIC, adding that urban fixed-asset investment in the third quarter would rise by around 32% year on year.
Export and import declines in the third quarter would slow down due to the better-than-expected economic situation of major trading partners including the
The country’s industrial output in the third quarter would rise by 11% in line with heavy-industry output growth.
The report emphasised that the government should continue to implement its “moderately loose” monetary policies in the second half of this year.
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