Home / Knowledge / News / Textiles / 'Chinese economic outlook brighter for 2016'
'Chinese economic outlook brighter for 2016'
23
Dec '15
Despite slowing economic growth, China's central bank – the People's Bank of China – has said in a research report that a number of positive factors will gain traction in 2016. But it has also warned that downward pressures on growth such as over capacity profit deceleration and rising non-profit loans will persist, a leading Chinese news website reported quoting the PBC research paper.

Ma Jun, chief economist at the central bank's research bureau, said a baseline forecast for real GDP growth in 2016 is 6.8 per cent, slightly lower than the expectation of 6.9 percent forthis year. For next year, the baseline CPI inflation forecast is 1.7 per cent, he said.

Real estate investment will see a slow rebound, he added.

Sales of China's commercial residential buildings increased by an average 22.4 per cent year-on-year from April to November, much higher than a minus 7.8 per cent year-on-year in the previous 15 months.

Growth in land transfer fees of 300 major cities picked up in the past several months. The recovery of the two indices is expected to restore investors' confidence . However there will be a time delay given the high inventory and weak demand in some small to medium cities, so investment is expected to pick up in the second half of 2016, Ma said.

Macro and structural policies are expected to show delayed impacts. The People's Bank of China has lowered interest rates and the reserve requirement ratio five times since thebeginning of 2015, which has greatly reduced financing costs.

According to Ma, along with the proactive fiscal measures adopted by the government, the policy adjustments are expected to have a measurable impact on CPI over a period of about five quarters. CPIfaces upward risks includingrebounds in oil, and food and real estate prices, while the downward risks include lingering low oil prices and falling commodity prices, led by a stronger dollar.

Services and green industries will be the new drivers. Emerging industries such as culture, entertainment, tourism, housekeeping services, environmental protection treatment, cleanenergy, electric cars, e-commerce and intelligent manufacturing have gradually become newdrivers for the economy.

Demand for housekeeping services will continue to grow thanks to the new "two-child policy" and an aging population. More stringent environmental standards and enforcement willsupport green investment and bolster the development of new energy, energy efficiency and environmental protection, the report said. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Textiles | On 26th Jul 2017

Q1 2018 revenue at Raymond soars 14%

The consolidated revenue of Raymond Limited for the first quarter of...

Textiles | On 26th Jul 2017

Textile Corp of America to create 1000 jobs in Tennessee

Textile Corporation of America Inc, a leading textile manufacturer,...

Textiles | On 26th Jul 2017

Leather & footwear industry expecting incentive package

India’s leather and footwear industry is anticipating an incentive...

Interviews View All

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X