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China's economy grew 2014 percent in first quarter 7,4 of the year - EastRussia | Far East






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China's economy grew 2014 percent in first quarter 7,4 percent

According to the IA Xinhua - State Information Center / GIZ / China today published a forecast that in the second quarter of this year, the growth of the Chinese economy will be 7,4 percent. and there will be a downward trend in economic growth and increased financial risks.

The report, published on Monday in the Zhongguo Zhengjuanbao / Securities / newspaper, the GIC, which belongs to the State Committee for Development and Reform, notes that the slowdown in the Chinese economy is mainly the result of deepening reforms and regulating the economic structure

“Economic growth is in moderate limits,” the message of this center indicates.

In the first quarter, the growth of the Chinese economy was 7,4 percent, which was the lowest quarterly growth since the third quarter, 2012.

GIC predicts that in the second quarter in the country will continue the current trend of economic development.

This center notes that the risks associated with the real estate market and local government debt, as well as overproduction are the main threats to financial stability in the country.

After intensive growth in recent years, there are more and more signs of "cooling" in the "overheated" real estate market in China. In some cities, such as Hangzhou and Shanghai, there has even been a decline in housing prices, which is happening in order to stimulate sales.

"Changes in market expectations and the settlement of the real estate industry may lead to systematic risks that will affect industries related to the real estate market, as well as financial and economic stability," the center warned.

The GIC in the report recommended that the Chinese government pursue an active financial policy and balanced monetary policy.

If necessary, China should reduce the percentage of deductions to the reserve fund for bank deposits, the GIC said.