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KPMG :China’s Economy Expected to Maintain Stable Growth
September 3, 2012
By Rob Starr, Content Manager, Big4.com
The first edition of the KPMG Review of China’s Economic Globalisation has been released and the review gives an analysis of China’s inbound and outbound investment. In the first half of the year, China’s indirect outbound investments (non-financial category) amounted to USD 35.42 billion, a year-on-year increase of 48.2%. Where inbound investments are concerned, China’s actual use of foreign investments totalled USD 59.1 billion, a year-on-year drop of 3% due to the impact of the international economic environment.
Peter Fung, Chair of GCP, comments:
“Macro-economic indicators show that China’s economy continues to slow down in the first half year. Major indicators include the 9.5% year-on-year increase in scaled industrial added value in June, which is weaker than markets’ projection. And the 3% year-on-year drop in actual use of foreign capital in the first half year, largely due to the European economic crisis, the increased cost of production factors, and the weak real estate market.”
The quarterly review aims to provide a comprehensive analysis of China’s major economic indicators and policies in the first half of the year, interpret trends in the macro economy, major sectors, offer up-to-date information on the latest inbound and outbound developments, and forecast the future of high-profile industries.
“Given the economic data in the first half of the year, we don’t foresee a hard economic landing in China, nor do we believe it necessary to worry about deflation. There are many signs showing that stable growth-centered measures have started to work,” Fung said.
KPMG China has 13 offices, including KPMG Advisory (China) Limited, in Beijing, Shenyang, Qingdao, Shanghai, Nanjing, Chengdu, Hangzhou, Fuzhou, Xiamen, Guangzhou, Shenzhen, Hong Kong and Macau, with around 9,000 professionals.