China's economy expands 6.7% in Q1, signalling stablization
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E-mail China.org.cn, April 15, 2016
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An aerial view of the free trade zone in Shanghai. [Photo/Xinhua] |
It will take more time to tell if the stabilization can last, he acknowledged.
"China's future growth is likely to follow an L-shaped trajectory in the long run, but in the near term, it may present a U- or W-shape due to fluctuations," Sheng told reporters.
The positive economic data makes it less necessary for Chinese policy makers to amp up stimulus immediately, analysts said.
With credit accelerating and growth stabilizing, the urgency to push ahead with monetary easing is reduced, while fiscal policy will do more of the work, said Tom Orlik, chief Asia economist of Bloomberg.
Newly-added social finance, a gauge of funds that firms and households get from the financial system, amounted to 2.34 trillion yuan in March, up 1.51 trillion yuan from February, central bank data showed on Friday.
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