The Qatar National Bank report stated that last year, China’s goal was to maintain rapid growth while reducing financial indebtedness, which was very difficult due to many external constraints. . Indeed, weak global demand and heightened uncertainty about international trade disputes have forced the Chinese government to reverse course and gradually ease monetary and fiscal policy.
The results have begun to show that the first quarter GDP growth figures came as a surprise in an upward direction, indicating that the slowdown in growth reached its lowest levels in the last session.
GDP growth reached 6.4% year-on-year in the first quarter, i.e. the same pace as in the fourth quarter, but exceeded the consensus expectations of 6.3%.
According to the seasonally adjusted annual growth on a quarterly basis, the result seems more promising as the numbers indicate a growth of 7.1% in the first quarter of 2019 compared to 6% in The last quarter of 2018. This is in line with the recent positive surprises in industrial production and in retail sales data.
In his report, Qatar National believes that growth in the non-government companies sector is a key factor in achieving the gradual rebalancing of the Chinese economy from investment-based growth and credit-based growth. Intensive to consumption-driven growth. The reasons for this include the fact that the private corporate sector is more efficient at using and distributing capital, which employs the bulk of the urban population.
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