Song Guoqing, an academic member of the People’s Bank of China monetary advisory committee, has stated that China’s economic growth will slow to 7.2% in the current quarter, and estimates 7.3% growth for 2015, Bloomberg reported. Alternatively, Fan Jianping, chief economist at a state research institute, predicts only 7% growth in 2015, barring any stronger-than-expected stimulus measures. Fan’s less optimistic view falls in line with a Bloomberg survey of 51 analysts, 13 of which predict the government will set a growth target of about 7% for next year. This would represent the slowest full-year growth since 1990. For now, China’s government is holding off broad stimulus, and PBoC governor Zhou Xiaochuan is vowing to stick with a prudent monetary stance.
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