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July data unlikely to disappoint: UBS analyst

English.news.cn   2014-08-02 14:52:42

BEIJING, Aug. 2 (Xinhua) -- Upcoming July data in China will show steady momentum in real economic activities due to policy support and ongoing reforms, said Wang Tao, an analyst with Switzerland's largest bank UBS.

China's central leadership held a semi-annual discussion reviewing economic policies on July 29, highlighting the importance of protecting growth. This means government policies will support growth in the coming months, which could boost business and market confidence, Wang said.

Monetary and credit conditions are being eased, Wang said.

Reforms continue to be top of the government's agenda, partly to boost growth. Recent moves include reforms on the household registration or "hukou" system and in the financial sector, Wang said.

The government on Wednesday issued a circular on reforms of the hukou system. The move is expected to finally end a system that has divided the nation into rural and urban since the 1950s.

The banking regulator on Monday said that it has approved the establishment of three private banks, including Webank by Internet firm Tencent, one in the eastern city of Wenzhou and one in the northern municipality of Tianjin.

The July inflation rate is scheduled to be published on Aug. 9 and last month's industrial output, fixed investment and retail data on Aug. 13.

Editor: Mengjie
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