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China Central Bank Adviser Expects Growth to Slow to 5.0%-6.0% in 4Q

China’s economic growth likely slowed to about 8.0% in the second quarter from a year earlier, and could ease to 5.0% in the last quarter of 2021, said Wang Yiming, a member of the People’s Bank of China’s monetary policy committee.

In an interview with state media, Mr. Wang said China’s economy could slow to slightly above 6.0% in the third quarter and between 5.0% and 6.0% in the fourth quarter.

Mr. Wang also told PBOC-affiliated media that a decision by the central bank to cut the amount of cash that banks must hold as reserves was a routine liquidity operation. It didn’t reflect changes in the country’s current monetary policy, he said.

China’s economy grew more than 18% in the first quarter from the year earlier quarter when the pandemic had caused activity to slump.
Source: Dow Jones

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