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


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.”

This story has been viewed 2001 times.

Comments will be moderated. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned.

TOP top