China's growth may fall below 7.5% in Q2

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Source: Marketwatch
China's economy may expand at slower pace in Q2 as industrial output growth remained at 9.6%, unchanged in June on a monthly basis, said Zhang Liqun, Development Research Center of the State Council. The GDP growth may fall below 7.5% in Q2, Zhang Liqun added. Meanwhile China's government is attempting to stimulate economic expansion by easing its prudent monetary policies. On Thursday, China's central bank cut its benchmark interest rate from 6.31% to 6%.

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Fri, 06 Jul 2012 07:29:42 GMT

China reduces interest rates to avoid the economic slowdown

The second time during the last two months the central bank of China has cut the benchmark interest rate in  attempt to prevent the economic slowdown. Benchmark lending interest rates were decreased from 6.31% to 6%, whereas deposit rates were diminished by 0.25%, from 3.25% to 3%. During the first three months of 2012, China had the slowest economic growth

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