Abney Associates Comments on How China is Stabilizing Growth
Abney Associates advising investors on China's slowdown in growth becoming stabile and Beijing planning will boost Asian markets.
- (1888PressRelease) July 04, 2013 - "The Chinese leaders have for some time been concerned their rate of growth was too large to be sustained indefinitely. We are advising clients of the positive effect this is having on markets in general across Asia. China has stable employment and rising incomes proving they are interested in economic growth with efficiency and quality and not only just the speed of growth. They are contributing to the positive factors, driving Asian recovery onward to increased health," said Michael Pringle the Head of Investment Analysis from Abney Associates.
Manufacturing in China accelerated in May, indicating a slowdown in economic growth in the first quarter is stabilizing. The report providing the information will bring comfort to policy makers after the reading of the survey pointed to the first reduction in months. The President Xi Jinping, has said that government measures reforming the economy will bring lower levels of growth and warned last month that new stimulus creates risk.
This reinforces policy that the government is in control with a slower rate of expansion since annual average growth of 10.5 percent over the past decade has led to industrial overcapacity, increasing financial risks and environmental problems. China's rate of growth was 7.8 percent in 2012, the lowest level in 13 years and the government has set a goal of 7.5 percent for this year.
"While creating a more sustainable rate of growth is a good thing for China it also is increasing stability and confidence in regional trading. This is good for Chinese markets and investors as well," added another Analyst at Abney Associates.
President Xi Jinping recently said the fundamentals of the Chinese economy are sound and growth is on a more stable footing. These comments were made ahead of his visits to Trinidad and Tobago, Costa Rica and Mexico, of which we anticipate new footing to be had.
"China as a more stable economy greatly adds to the combined strength in the Asian marketplaces. We find this to be good news for investors seeking to identify solid positions leading to gains building with continued growth. Right now new excitement is taking hold in markets that are expanding every day," said Michael Pringle the Head of Investment Analysis from Abney Associates.
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