China’s economists expect bottoming out: Survey
The most important and market-moving stories from the Chinese-language media
The Economic Observer surveyed 76 economists and had the following findings:
- Half believe that China’s economy is bottoming out at the vertical-end of a “L-shape” pattern and this could last for three to five years;
- Around 10% said that property prices in first-tier cities would drop earliest in 2016 Q4;
- Around two-fifths estimate 2016 Q3 GDP growth at 6.6%; another two-fifth at 6.7%
External, cyclical factors causing economic slowdown, Lin Yifu says
The slowdown in China’s economy are caused by both external and cyclical factors, Peking University Professor Lin Yifu said at the Fudan Chief Economist Forum on October 16. Lin said the government should expand its fiscal policy to help boost corporate profits and reduce company debt.
Hainan to finish review of internet lenders by end of November
The provincial government of Hainan will finish its review of online finance companies by the end of November, Xinhua news agency said on October 16. The review is expected to introduce regulations on equity crowdfunding businesses and peer-to-peer lending platforms, according to the report. The state council of China announced plans on October 13 to regulate internet finance companies.
Money flow into emerging market equity funds at an eight week high: EFPR
Money flows into emerging market equity funds are at their highest in eight weeks, according to data provided by EFPR Global, a financial company that tracks capital flows, in a report by the Shanghai Securities Journal on October 16. Japanese equity funds have “haemorrhaged” over two billion US dollars, the most since the fourth quarter of 2014, according to the report.