介绍:
本期嘉宾：美中投资集团创始人兼CEO高腾(Michael Gordon)
Tim Condon, Head of Research in Asia for ING Bank
Andrew Zhu, 德勤合伙人
Welcome to Biz Buzz, where we look at the emerging trends in the business world. I&`&m Luo Yu in Beijing.
In this edition of Biz Buzz, we will talk about China&`&s economy growing 7 percent in the second quarter, slightly better than expected.
We will also hear about investment opportunities for Chinese SMEs in the US.
That&`&s all coming up in this edition of Biz Buzz.
(Report) China&`&s economy grows 7 pct in Q2, slightly better than expected
Anchor:
China&`&s economy has posted a 7-percent growth year on year in the second quarter of 2015.
National Bureau of Statistics data shows second-quarter GDP grew 1.7 percent over the previous quarter.
Qian Shanming has more.
Reporter:
The growth rate beat a median market forecast of 6.9 percent for the second quarter.
It has been a difficult year for China which is the world&`&s second-largest economy.
Slowing growth in trade, investment and domestic demand has been compounded by a cooling property sector and most recently a stock market turbulance.
Sheng Laiyun, statistics bureau spokesperson, analyzes the current situation at a news conference in Beijing.
"The domestic and the external economic environment remained fairly complex in the first half of the year. As for the global situation, the global economic recovery was comprehensively lower than the expectation. At present, it&`&s showing a sign of slow recovery with obvious polarization."
Chinese stock markets did not celebrate the news, however, with benchmark indexes down nearly 3 percent in morning trade on Wednesday.
The government is still trying to stabilize its exchanges, which lost as much as 30 percent in a few short weeks of panicked selling.
Sheng says a stable stock market was vital for China&`&s economy and forceful measures taken recently to contain the meltdown were showing results.
"The Chinese government is capable and has confidence to prevent regional and systematic risks from happening, and it is capable and has conditions and the confidence to promote the stable development of the stock markets and domestic economy."
He also predicts further improvements of the economy in the second half of the year as previous policy measures take effect, including several interest rate cuts.
Pan Jiancheng with the National Bureau of Statistics agrees and says China&`&s economy has shown positive growth, which has huge prospect and potential.
"During the first half of the year , China introduced a series of measures to stabilize economic growth, including a large amount of public service investment, which will be implemented gradually during the second half of the year. In addition, a series of monetary policies including reduction of interest rates, deposit reserve ratio and taxes will be better implemented in the second half of the year. So I think the momentum to drive economy growth will be stronger in the second half."
The government has forecast economic growth of around 7 percent for 2015, which would be the weakest rate in 25 years.
That was Qian Shanming with the report.
You can get in touch with us via email with any questions at newsplus@cri.com.cn. Visit newsplusradio.cn to know more.
(Q&A 1)
For more on the newly released GDP data, Zhao Yang spoke with Tim Condon, Head of Research in Asia for ING Bank and Andrew Zhu, Partner of Deloitte China.
That was Tim Condon, Head of Research in Asia for ING Bank and Andrew Zhu, Partner of Deloitte China speaking with Zhao Yang.
(Q&A 2) Interview with Michael Gordon on Chinese investment in the US
The past decade has seen an unprecedented boom in Chinese investment flows to the United States. Chinese companies are poised to continue to deepen their presence in the US.
Despite a recent economic slowdown, China remains a dominant goods exporter and is growing at a faster clip than the rest of the world. China&`&s central bank holds some $4 trillion in foreign exchange reserves, and Chinese companies and wealthy individuals are eager to diversify their assets overseas.
But what are the challenges facing SMEs that want to expand their territory in the States? And what are the prospects for the bilateral investment treaty currently under negotiation?
For more on this, I spoke with Michael Gordon, Founder and CEO of USAChina Investments Group.
That was Michael Gordon, Founder and CEO of USAChina Investments Group.
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