Date
17 October 2017

China social financing may slow to mid-teens in 2014, UBS says

China’s total social financing could see its growth rate decelerate to the mid-teens next year from an estimated 18-19 percent this year, Patrick Ho, executive director of UBS AG, told a forum in Hong Kong Friday. A slowdown in credit growth will exert some pressure on the country’s overall economy, he said, adding that gross domestic product growth is likely to stay at about 7.8 percent next year, instead of the previous forecast of 8.1 percent. Chinese authorities should not suppress credit growth too much, Ho said, warning that excessive tightening could lead to many company closures.

–Contact HKEJ at [email protected]

AM/JP/RC

 

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