Economy boom continues, interest rate raise expected

时间：2007-10-15 07:57:37

（单词翻译:单击）

Chinanews, Shanghai, Oct 13 – In the next six to nine months, Chinese economy might continue to remain robust1. Facing the inflation and ever-increasing assets prices, the central bank might consider further raising the interest rate several times, according to the prediction made by Standard Chartered Bank in its monthly economic review issued on Wednesday.

 

In future, the major financial risks might come from the sudden sall of shares and house properties in the stock and real estate markets, the deterioration2 of credit loan release resulting from sluggish3 export, and the trade protectionism from the United States, the report says.

 

Although in China, consumption, investment and capital market do not share a close relation as in other mature markets, the sudden drop of assets prices might still bring about severe negative influences on the people. It will greatly affect the consumption and commercial confidence in cities.

 

In predicting the economic growth, Wang Zhihao, a renowned4 economist5 at Standard Chartered Bank, said that over the next six to nine months to come, economic growth rate might maintain at upwards6 of 11%. However, starting from the second half of next year, economic growth rate might start to slow down, mainly due to the decreased export growth, weakened business confidence and the drop of companies’ profitability. As a result, the global large commodity goods market might react negatively to such changes. However, Chinese economy might realize a “soft landing,” according to Wang.

 

He predicted that the current interest raise might reach its peak at the second quarter in 2008. By then, economic growth will start to slow down and worries about inflation and assets prices hike will gradually disappear. By the second half of 2008, economic growth will slow down and government fiscal7 policy will become even more important.

 

Standard Chartered Bank predicts that in 2007, Chinese GDP growth will reach 11.5% and 10.8% in 2008. By the end of 2007, China’s foreign exchange reserves will reach 1.61 trillion US dollars and in 2008, 2.16 trillion US dollars.

 
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1 robust FXvx7     
adj.强壮的，强健的，粗野的，需要体力的，浓的
参考例句：
  • She is too tall and robust.她个子太高，身体太壮。
  • China wants to keep growth robust to reduce poverty and avoid job losses,AP commented.美联社评论道，中国希望保持经济强势增长，以减少贫困和失业状况。
2 deterioration yvvxj     
n.退化；恶化；变坏
参考例句：
  • Mental and physical deterioration both occur naturally with age. 随着年龄的增长，心智和体力自然衰退。
  • The car's bodywork was already showing signs of deterioration. 这辆车的车身已经显示出了劣化迹象。
3 sluggish VEgzS     
adj.懒惰的，迟钝的，无精打采的
参考例句：
  • This humid heat makes you feel rather sluggish.这种湿热的天气使人感到懒洋洋的。
  • Circulation is much more sluggish in the feet than in the hands.脚部的循环比手部的循环缓慢得多。
4 renowned okSzVe     
adj.著名的，有名望的，声誉鹊起的
参考例句：
  • He is one of the world's renowned writers.他是世界上知名的作家之一。
  • She is renowned for her advocacy of human rights.她以提倡人权而闻名。
5 economist AuhzVs     
n.经济学家，经济专家，节俭的人
参考例句：
  • He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
  • He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。
6 upwards lj5wR     
adv.向上，在更高处...以上
参考例句：
  • The trend of prices is still upwards.物价的趋向是仍在上涨。
  • The smoke rose straight upwards.烟一直向上升。
7 fiscal agbzf     
adj.财政的，会计的，国库的，国库岁入的
参考例句：
  • The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
  • The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。

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