In 2012 China will grow "only" by 7,5%, less than the previously estimated 8%. But, as he had already announced a World Bank report, it is not a question of a slowdown following the global slowdown, but rather the internal decision to prefer more sustainable development to unregulated growth. This was stated by Chinese premier Wen Jiabao at the annual session of Parliament on Monday. “We intend to promote stable and robust development of the economy, keep prices stable and remain on guard against financial risks, keeping the total money and credit supply at an appropriate level and adopting a cautious and flexible approach,” the prime minister said.
So keep an eye on theinflation is the other priority of the Republic of China for 2012. The annual target has been set at 4%. January there was a 4,5%. As far as the public accounts are concerned, a deficit increased to 1,5% of GDP from 1,1% in 2011. The growth target for the monetary aggregate M2 was set at 14%.
On the macroeconomic front instead the PMI-HSBC services index (purchase and manufacturing index relating to the service sector) scored in February the highest figure in the last four months at 53,9 points from 52,5 in January.
