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Fighting smog may blur data this year



The Chinese government has indicated that it still intends to reduce pollution. Prime Minister Li Kecian said last week in his annual report on government work that the authorities will step up the prevention and control of pollution next year.

At the same time, Li has set a lower target for economic growth since last year and said the country should be "fully prepared for a heavy struggle."

The economic outlook does not bode well. Lu of Nomura noted that postponed demand in April and May last year probably means that comparable data on economic activity in the coming months will be "negatively affected". Lou lowered its forecast for gross domestic growth for the first quarter to 6.2% growth over the previous period and maintained forecasts for an even slower growth rate of 5.7% in the second quarter.

China's economy grew 6.6% last year, according to official government figures, which is the slowest pace since 1

990. Beijing says it is aiming for growth of 6 to 6.5% this year. , while expenditure growth in areas more critical to the economy is less stable:

  • Investment in manufacturing fell to 5.9% in January and February, compared with 11.6% in the fourth quarter.

"(Thursday) data is the third signal to wake up in the market for six days after data export last Friday and data on loans to S" Unexpectedly, "said Larry Hu, head of the Macquarie Chinese economy. strong forward growth, which sets the foundations for a thriving market such as 2012 (downside down revision and multiple upward adjustment, left-handed graphics), not bullish as 2017 (both profits and revisions repeatedly).

One of the few bright spots could be to stabilize retail sales, which Hu expects to grow by 8% this year, slightly below last year's 9% growth.

The Shanghai composite fell 1.2 percent on Thursday and fell by more than 3.5 percent over the past five trading days. However, the index has risen by 19.9% ​​for the year so far.


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