Arab Today, arab today china needs no big stimulus despite slowdown
Last Updated : GMT 13:45:13
Arab Today, arab today
Arab Today, arab today

China needs no 'big stimulus' despite slowdown

Arab Today, arab today

Arab Today, arab today China needs no 'big stimulus' despite slowdown

China's PM
Beijing - XINHUA

China does not need large-scale monetary stimulus in the near future despite a slowdown in the world's second-largest economy, a senior economist with the Chinese central bank said Saturday.
"I don't see the reason for big stimulus in the foreseeable future," Ma Jun, chief economist of the Research Bureau of the People's Bank of China (PBOC), said at a panel discussion on the sidelines of the Annual Meetings of the International Monetary Fund (IMF) and the World Bank.
Although the economic growth has "slowed a bit," China's job market "looks pretty stable," because China's economy is transforming from a manufacturing-dominated structure to a "more services-based" one, Ma told the session, hosted by the Institute of International Finance (IIF) and focused on China's economic outlook.
Services, which are generally labor-intensive than manufacturing, became bigger than the industrial sector last year. According to Ma's recent research, the creation of urban jobs by an increase of one percentage point in the share of the services sector as of China's gross domestic product (GDP) can offset the job losses caused by a decline of 0.4 percentage point in the GDP growth.
Given that the share of the services sector in China's GDP is rising about one percentage point per year or even higher, "we're not concerned about labor market conditions," he said.
"That's the reason why the government was pretty relaxed about the GDP growth rates slowing down towards 7 percent," said David Dollar, a senior fellow at the Brookings Institution, a think tank, adding that China created about 10 million new jobs in the first eight month of this year, reaching its annual target.
Another reason for ruling out major stimulus is to "avoid further increase in leverages" in real estate, certain state-owned enterprises and local-government financial vehicles, which were already too high, Ma said.
While the real estate sector accounts for 20 percent of total investment in China and has become the main downside risk to the Chinese economy, Ma said he believes the chance of a hard landing for China's economy is very low.
Ma said the Chinese central bank has used "targeted easing measures" to support agriculture, micro-firms and public housing, and there are also new growth engines in such services sub-sectors as the Internet and heath care.
Economic indicators suggest that the Chinese economy will continue to expand at a steady pace, Zhou Xiaochuan, China's central bank governor, said at a meeting of the IMF's policy-setting committee on Saturday.
Chinese authorities will maintain consistency and stability of macroeconomic policies in order to maintain growth at a reasonable rate, promote employment and guide inflation expectations, he said.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china needs no big stimulus despite slowdown Arab Today, arab today china needs no big stimulus despite slowdown

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday