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The report predicts that CPI and PPI will fall by 1.3% and 7.9% respectively in the third quarter, and continue to be low; urban fixed asset investment increased by 32% year-on-year; retail sales of consumer goods increased by 14.6% year-on-year; export situation is still grim, and imports and exports are respectively year-on-year. Decreased by 12.7% and 20%. The industrial growth rate increased by 10.8% year-on-year.
The report also said that asset price fluctuations are one of the concerns of monetary policy, but not the main basis for its adjustment. In the second quarter, China's GDP growth rate has not yet reached the lower edge of the macroeconomic green light zone; while the CPI has been falling for several consecutive months, in fact, it is in a mild deflation. Therefore, monetary policy does not have the conditions to change direction, and it is necessary to continue to implement a moderately loose monetary policy in the second half of the year.
The National Information Center reported that GDP in the third quarter is expected to grow by about 8.5% year-on-year.
According to the report released by the National Information Center on August 21, the trend of China's GDP recovery is gradually strengthening. It is expected that the GDP in the third quarter will increase by about 8.5%. At the same time, China is still in a mild deflation, and monetary policy does not have the turning conditions.