13 July 2011 06:09 [Source: ICIS news]
“Although growth was decelerating, the economy remained in good [growth] momentum,” said Meng Xiangjuan, chief analyst at Shanghai-based brokerage Shenyin & Wanguo Securities.
In the first half of the year, the country’s GDP growth averaged 9.6%, according to the National Bureau of Statistics (NBS).
Industry production increased by 14.3% over the same period, while fixed assets investment expanded by 25.6%, the data showed.
Inflation, which tracks the movement of consumer prices, jumped to a three-year high of 6.4% in June, according to NBS.
The government is expected to maintain its tight monetary and financial policies to contain inflation, which is currently deemed as the biggest threat to
“The tight polices is unlikely to be loosened before the fourth quarter,” said Meng.
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