ECONOMY ListPage

By Dai Qi

Many major foreign financial institutions are positive about China's economic growth in the second half of 2018, the Shanghai Securities News reported on Tuesday.

Data shows that in the first half of this year, China's gross domestic product (GDP) had increased by 6.8 percent year-on-year.

Major foreign financial institutions held a similar prediction that China can achieve its GDP growth goal over the year.

Ding Shuang, the chief economist of Standard Chartered China, said that China could see a stable and robust growth of imports in the second half of the year due to the high domestic demand and the incentive policies to further expand it.

Standard Chartered China predicted that the country's GDP is expected to maintain a growth rate of 6.5 percent or above in 2018, while the figure from J.P. Morgan is more optimistic for the second half of the year.

Regarding exports, Gao Ting, an analyst from UBS Securities, said that China had witnessed a steady growth in recent months from the beginning of this year up to now, at about 13 percent, higher than that of the same period last year.

He added that China's foreign exchange reserve is stable as well. "Though we have seen fluctuations of the RMB to the USD, it is relatively value-maintaining when compared to a basket of other currencies," said Ding.

At the macro-policy level, Standard Chartered China held that the positive impact of China's monetary policies, which maintain a balance through an easing or tightening only when appropriate and a sufficient liquidity, would manifest itself next year.