Thu, Sep 26, 2013 - Page 15 News List

China Beige Book shows slowdown

SKEPTICS:Figures released by the New York-based group diverged from government data showing faster output gains and raises questions about a sustainable rebound

Bloomberg

So-called shadow lenders’ share of financing rose to 29 percent of loans in the third quarter, up 5 points, the survey showed.

Not all the China data showing a rebound have come from government sources. A report released by HSBC Holdings PLC and Markit Economics on Monday showed manufacturing strengthened more than estimated this month, mirroring an increase last month in a similar government-produced index.

Singaporean Finance Minister Tharman Shanmugaratnam said in a speech yesterday that while he does not see a “hard landing” for China, a growth rate of less than 6.5 percent would have “major implications for the rest of the world, and especially for Asia.”

Paul Gruenwald, Standard & Poor’s chief Asia-Pacific economist, said in a report yesterday that China’s growth may range from 7 percent to 7.5 percent during this year and beyond, a level that will become the “new normal.”

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