Monday 23 November 2009


CHINA COULD SURPASS 2009 GROWTH TARGET, SAYS HSBC

Gail Moss

FT Adviser, November 23, 2009

China's economy is set to exceed its 8 per cent growth target for this year, according to Richard Wong, manager of the $3.5bn (£2.1bn) HSBC GIF Chinese Equity fund.

Mr Wong said: "China recently announced third-quarter GDP growth of 8.9 per cent year-on-year, an improvement from the 7.9 per cent expansion for the second quarter and the 6.1 per cent growth for the first quarter.

"China has achieved 7.7 per cent growth so far this year. As the fourth quarter of last year was extremely weak, we expect year-on-year growth for the last quarter of this year to be even stronger, exceeding 8 per cent."

This strong growth should be sustainable next year, driven by existing and new infrastructure projects and robust domestic consumption, according to Mr Wong.

He pointed out that China's retail sales had gained 15.5 per cent year-on-year in September, the fastest rise in eight months.

(...) [artículo aquí]

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