China's economy likely grew 5.1% in the second quarter from a year earlier, slowing from a strong start in the first three months due to sluggish consumer...
BEIJING - China 's economy likely grew 5.1% in the second quarter from a year earlier, slowing from a strong start in the first three months due to sluggish consumer demand, keeping alive expectations Beijing will need to unleash more stimulus.
Policy advisers also believe China could unveil tax and fiscal reforms to allow debt-laden local governments to get more tax revenues to help ease pressures on local finances. However, he expected headline GDP growth may slow markedly to 4.2% year-on-year in the second half from around 5.0% in the first half, "unless Beijing ramps up stimulus by speeding up fund injections significantly for completing unfinished pre-sold homes."Authorities in May allowed local state-owned enterprises to buy unsold completed homes, with the central bank setting up a 300 billion yuan relending loan facility for affordable housing.
Central bank governor Pan Gongsheng last month pledged to stick to a supportive monetary policy stance and said the bank will flexibly use policy tools including interest rates and reserve requirement ratios to support economic development. The money will go toward paying off Trump’s legal fees and relocating her family after facing ‘countless death threats’ -- The leader of Canada’s Conservative Party has opened up a bigger lead among voters on the question of who would be the best economic manager, underscoring the political challenges faced by Prime Minister Justin Trudeau.
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