NEW YORK, Oct. 15, 2014 /PRNewswire/ -- Core Views
As evidenced by strong rhetoric regarding its economic growth target
in 2014, Beijing is likely to continue to implement targeted stimulus
measures in order to avert a more acute economic slowdown. As
a result of what we expect to be a balance between short-term
stimulatory measures and longer-term economic reforms, we have
upgraded our 2015 real GDP forecast to 6.7% from 6.0% previously.
At the same time, we see the economy achieving a 7.3% rate of
growth in 2014, versus our previous forecast of 7.1%.
The Chinese government's official investigation in Zhou Yongkang
is a major split from past precedent, and will likely be the zenith of Xi
Jinping's anti-corruption campaign. The campaign has also served
as a purge to eliminate hostile political forces, and we believe that it
will pave the way for Xi to enact more aggressive economic reforms
over the coming years.
Major Forecast Changes
Following the Chinese yuan's recent appreciatory run, we have
upgraded our end-2014 and end-2015 forecasts on the unit to
CNY6.2000/USD and 6.2500/USD, respectively, from CNY6.3500/
USD and CNY6.4000/USD previously. That said, we continue to see
downside forces acting against the currency, as the PBoC may look
to utilise the currency as a stimulatory tool in the face of a slowing
economy.
Read the full report: http://www.reportlinker.com/p0254415-summary/view-report.html
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