US Agency predicting China says economy will continue to slow in the second quarter _ | | | slowdown in economic growth of China's economy news

Xue Jiao

Yesterday, the United States authoritative economic research institutes CBB International LLC released its "Beige Book of China" (the China Beige Book) survey. Survey results show that China's economic growth is likely to slow further in the second quarter, mainly due to capital spending showed weakness, decrease in the number of companies applying for loans.

It is reported that the investigation report to the Federal Reserve's beige book report as a template, designed to provide investors with expert guidance of China's economy. China "Beige Book," first published in the first quarter of 2012, is aimed at China, fully reflected in national, regional, industry-level studies on the economic situation.

The report also showed that surveyed companies, only half said an increase in investment, the minimum proportion since the report since its release in 2012, and the greatest decrease, this ratio in the first quarter to 58%. Investment slowdown on employment and wage levels are adversely affected, impacting the shadow banking lending rates, the report says, "the shadow lenders" level has been below the bank rate to be provided.

Reported in the second quarter, China's non-banking sector (including shadow banking) borrowing costs dropped significantly compared with the first quarter of 8% to 6.3%, while the average bond yields dropped 1% to 5.8%, both of which are lower than bank lending rates by about 6.9%, which appeared for the first time in China. Meanwhile, lending to banks to submit applications for reductions in the number of companies, leading to lower amount of bank loans this quarter upward.

According to foreign media reports, President of CBB Le Lan Bode Miller (Leland Miller) said in a statement published in: investments over the past 7 years, has been the main engine of economic growth and, therefore, its weakness on Chinese industries, regions, and various indicators to measure performance with a wide range of effects.

Reports indicate that most of the business conditions of the trade which does not show signs of improvement, especially in services showed rapid downward trend, reporting revenue growth of service sector companies declined sharply to 44%, compared with the previous quarter to reduce 11%, 10% drop over the previous year. In addition, transportation, mining and retail sales growth has slowed.

Real estate industry show significant differences in development, commercial and residential real estate hit the commercial building sector has done a good, steady price growth.

According to survey data released by Bloomberg News, economists expect second-quarter economic growth may reach 7.4%, unchanged from the first quarter, also 6, its lowest level in a quarter.

This phenomenon, most analysts believe the Government might speed up the stimulus to achieve annual economic growth target of 7.5%.

(Original title: China's Beige Book: economy continued to slow in the second quarter)

02:43 on June 24, 2014 First financial daily