Mainland China's economy poised to rebound to 7.9% in 3Q

Here's what will boost this growth.

According to Hang Seng Bank's China Economic Monitor, Mainland China's economic growth is set to rebound to 7.9% in the third quarter.

Here's more:

Mainland China will release its real GDP growth for the third quarter on 18th October.

Although economic growth slowed to 7.5% in the second quarter from 7.7% in the first quarter, July and August macro data suggested that economic conditions have been improving after the government implemented “mini-stimulus” policies, including accelerating infrastructure projects and offering tax breaks for small companies to boost growth.

Fixed asset investment (FAI) growth accelerated to 20.1% in July and 21.4% in August from 19.9% in the second quarter on the back of more infrastructure investment.

Steady income growth also continued to support private consumption, with retail sales increasing more than 13% during the same period. Even exports, the main drag on growth in the second quarter, rebounded with global conditions improving.

Against such a background, we expect GDP growth in the third quarter to accelerate to 7.9% from 7.6% in the first half.

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