Unirule Institute of Economics held Macroeconomic Analysis Report for the 2nd Quarter of year 2009 release conference On July 23rd, 2009, with over ten Journalists from different news media and some economics operators being present.
The reports points out that, GDP of the 2nd Quarter of year 2009 grew by 7.9%, pulling the economic growth of the first half year of 2009 up to over 7%. This indicates that Chinese government’s policy aimed at maintaining stable growth is taking effect, and China’s economy has hit its bottom and is now bouncing back. The explosive growth of currency and bank loans precipitates asset price bubbles and brings about worries of coming inflation. Moreover, the growth of bank non-performing loans and the bank’s acting the financial function also set back the clock of our financial reform. Therefore, the risk of our economy operation is up.
As the key of China’s reform and adjustment is to promote urbanization process, the report also proposes a general approach and the operation framework for solving the problem of peasants and land. It is hoped that policy-makers could take these suggestions into consideration.
(Editor: Janniy Yang)