forecast<\/a> for 2Q24 Chinese GDP growth is at 5.1% y\/y.<\/p>\nChina to prevent the economic recovery from stalling<\/h2>\n
\u201cChina\u2019s official manufacturing PMI remained in contraction for the second consecutive month in Jun while the non-manufacturing PMI slipped to its lowest reading this year. However, the Caixin manufacturing PMI outperformed again as it edged higher.\u201d<\/p>\n
\u201cTo prevent the economic recovery from stalling again, the authorities are expected to step up the implementation of earlier announced proactive fiscal measures, particularly on consumption and developing its high-tech growth drivers. The third plenum on 15-18 Jul will focus on the \u2018reform of the economic system\u2019 but there is little anticipation for additional stimulus measures.\u201d<\/p>\n
\u201cOur forecast for 2Q24 GDP growth is at 5.1% y\/y. We maintain our forecast for the 1Y loan prime rate (LPR) to fall to 3.20% by end-4Q24 (current: 3.45%) while the 5Y LPR may stay on hold at 3.95% through the rest of 2024. There is also a possibility of another 50 bps cut to the reserve requirement ratio (RRR) in 2H24.\u201d<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
China\u2019s official manufacturing PMI remained in contraction for the second consecutive month in Jun while the non-manufacturing PMI slipped to its lowest reading this year. UOB Group macro analysts set their forecast for 2Q24 Chinese GDP growth is at 5.1% y\/y. China to prevent the economic recovery from stalling \u201cChina\u2019s official manufacturing PMI remained in […]<\/p>\n","protected":false},"author":2,"featured_media":118170,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[299,201,248,251,297,246,257,656,255,250,252,1063,247,253,249,256,254],"class_list":["post-335723","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-banks","tag-blockchain","tag-bsc","tag-chainlink","tag-china","tag-coin","tag-cryptocurrency","tag-gdp","tag-gta","tag-looks-rare","tag-oracle","tag-pmi","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/335723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=335723"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/335723\/revisions"}],"predecessor-version":[{"id":335725,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/335723\/revisions\/335725"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/118170"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=335723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=335723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=335723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}