China News Agency, Berlin, July 24 (Reporter Peng Dawei) In response to the development trend of the Chinese economy in the second half of 2020, a new report released by Deutsche Bank on the 24th believes that the Chinese economy is accelerating out of the impact of the new crown pneumonia epidemic and completing the "V-shaped "Recovery is expected.
Deutsche Bank Group (Deutsche Bank) is the largest bank in Germany. The forward-looking research report published by Deutsche Bank China's chief macro economist Xiong Yi on the development trend of the Chinese economy in the second half of 2020 made the above judgments.
The report believes that the new crown epidemic and subsequent recovery are the main drivers of China's economic fluctuations in the first half of the year, but from the second half of the year, the impact of the above factors on the overall economy will gradually weaken. It is expected that after entering the second half of the year, the economic performance of different industries will show structural differences; the expenditure on durable consumer goods, especially automobiles and smart phones, may exceed expectations.
The report stated that China’s policy benefits are frequently seen and will continue to support economic growth in the second half of the year. Among them, fiscal and monetary policies have provided strong support for the recovery of the Chinese economy in the first half of the year, and it is expected that the policy tone will remain stable in the second half of the year.
The report analyzes that monetary and credit policies and financial support will continue to boost China's economic growth in the second half of the year, and cover a wide range of business areas. It will not only benefit industries that are heavily affected by the epidemic, but also bring benefits to industries that perform well. The report also reminds that the above measures may also cause overheating in some industries. Preventing the real estate market from overheating may become a focus of macroeconomic policy in the second half of the year. (Finish)