China stats bureau comments now: Economy steady, more positive signs

Author: Eamonn Sheridan | Category: News

From the National Bureau of Statistics in China following the GDP data (and more)

  • Economy clearly steady situation
  • Economy sees more positive signs
  • Employment better than expected
  • Consumption contribution to economy is increasing
  • China property curbs timely, effective, cool market, lead to lower price in some cities
  • Ultimate goal of property curbs to support economy
  • Yuan depreciation has brought pressure in shirt term
  • Yuan has no fundamental to depreciate in medium, long term. Recent devaluation due to more to global situation.
(via Bloomberg)
  • Capital formation accounts for 36.8% of China's January - September GDP growth
  • Net exports account for -7.8% of January - September GDP growth
  • Rising prices of industrial products, profits partly due to supply-side reforms, these will unwaveringly push forward
  • Property sector contributed 8% to January - September GDP growth
(via Reuters )
The newswires have some response posts up on the web if you'd like a recap:
Commerzbank says that the weaker IP may prompt further yuan devaluation from the PBOC
  • Fiscal stimulus may be limited
  • Further monetary easing also difficult - thus a weaker yuan

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