China seeing V-shaped recovery
Published: Dec 09, 2009 01:42 AM Updated: May 25, 2011 01:10 PM

China is experiencing a clear V-shaped economic recovery, Zhu Min, vice-governor of the People's Bank of China, said Tuesday.

Zhu's comment comes a day after the central leadership said it would stick to pro-growth policies implemented more than a year ago to counter the shock of the global financial crisis, while leaving open the possibility of tightening down the road.

"China's economy has started stabilizing and showed a clear V-shaped recovery," the official Xinhua News Agency paraphrased Zhu as saying in a speech.

"The relatively loose monetary policy adopted by China to address the hit of the global financial crisis has produced good results."

Annual growth picked up to 8.9 percent in the third quarter from 6.1 percent in the first three months, turning the focus of attention to when and how policymakers will unwind stimulus that has included encouraging a flood of lending in the first half of the year.

But analysts took other commitments from that conference, including a vow to "strictly" control new investment projects and to enhance policy flexibility, to suggest that the overall policy outlook next year will be much less accommodating than it was this year.


blog comments powered by Disqus