It is predicted in the latest report released by Standard Chartered Bank that the growth rate of China’s gross domestic product (GDP) will be 7.4% this year, 0.6 percentage point higher than the previous expectation.
The main reason for Chartered Bank to increase the expectation for China’s economic growth is that the large infrastructure projects financially supported by Chinese government are successively started and China’s real estate market is continuously improved.
Chartered Bank said that since the Chinese Spring Festival China’s real estate sales began to rebound and people were increasingly willing to buy houses, and the stocked houses for sale decreased in many cities. It was expected that from the second quarter of this year, China’s real estate projects would have an increase, thus stimulating the growth of overall demand and create more employment opportunities, supporting the development of steel and cement industries.
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