Gov't think tank: China's economic growth to exceed 9% in 2010
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China's business press carried the following stories on Tuesday. China.org.cn has not checked the stories and does not vouch for their accuracy.
Think tank: China growth to exceed 9% in 2010 -- China Securities Journal
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Chinese Academy of Social Sciences, a government think tank, released its annual Blue Book on December 7, 2009. |
The Chinese economy will achieve its growth rate target of 8 percent in 2009 and will grow more than 9 percent in 2010, the Chinese Academy of Social Sciences (CASS) says in its latest report.
According to Blue Book 2010, an annual report released by CASS, China's economic growth will reach 8.3 percent this year and 9.1 percent in 2010.
The government think tank predicts that the country's total fixed assets investment will be 22.74 billion yuan this year, up 6.5 percent year-on-year. In 2010, if China continues with its proactive fiscal policy and moderately loose monetary policy, fixed asset investment is expected maintain a relatively high growth rate. According to the Blue Book, the nominal growth rate of China's fixed assets investment will reach 23.9 percent in 2010 and the proportion of fixed assets investment in GDP will probably exceed 70 percent.
CASS also sees no significant inflation in 2010, with the consumer price index (CPI) rising less than 3 percent.
According Pei Changhong, director of the Institute of Finance and Trade Economics, CASS, China's trade volume and export volume will grow 10 percent and 15 percent, respectively.
China's total trade volume will drop by 14-15 percent this year compared to 2008, said Pei, adding that this year's trade surplus is expected to stand between US$180-190 billion.
BOC to maintain 2009 lending levels in 2010 -- China Business News
Bank of China (BOC), the country's third largest bank by market value, is expected to continue this year's level of lending in 2010, China Business News reported Tuesday, citing sources close to the lender.
"Bank of China attaches great importance to next year's lending business," the source told the newspaper, "therefore its lending is unlikely to be small in 2010."
Statistics show that by the end of October this year, BOC's new RMB loans reached nearly 1.1 trillion yuan, the highest among China's big four banks.
Economist: China won't see sharp rise of yuan -- Shanghai Securities News
China's yuan will not rise sharply next year but is expected to reach 6.7 against the US dollar by the end of 2010, Guotai Junan Securities Chief Economist Li Xunlei said Monday.
According to Li, China's economy will mainly be driven by consumption and investment and will maintain a low inflation in 2010.
Li noted that capital flows are not putting too much pressure on yuan appreciation. From January 1994 to February 2009, the RMB real effective exchange rate rose 66.1 percent.
Li expects the yuan to appreciate by about 2 percent against the US dollar next year.
Uni-President says no plan to acquire Huiyuan -- National Business Daily
Taiwan's leading food and beverage producer Uni-President Monday denied a newspaper report saying that it is planning to takeover China's Huiyuan Juice next year, the National Business Daily reported Tuesday.
A Uni-President statement said the company currently holds no stake in Huiyuan and has no plans to either take a stake in Huiyuan or acquire the Chinese juice maker.
Uni-President is focused on the Asian consumer food market and it's natural for it to conduct strategic cooperation with peers, upstream and downstream players, the statement said.
Shares in Huiyuan surged by 19.14 percent on Monday on market speculation of a possible takeover
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