Wang Yiming, Vice director of Macroeconomic Research Institute of National Development and Reform Commission, said that in an expansionary economic stimulating policy, the recovery trend of economy was gradually clear. Due to the credit size, the currency issuance reached a record high, which would bring about inflationary pressures.
Wang Yiming said on June 27 in China Macro-economy Forum that in an expansionary economic stimulating policy, the recovery trend of economy was gradually clear, but challenges and risks should still be concerned in economic recovery, for the task of 8% in growth needed to be paid more efforts.
Wang said the bottom of the cyclical decline in this round was shown in the first quarter of 2009, and in the third and fourth quarters the economy would continuously be recovered, and the second quarter was the key transition from low to high.
Wang said that due to the continued decline in external demand, the pulling effect of domestic demand was strengthened. But the domestic demand mainly relied on government investment. The private investment did not followed up in time. Although the market expectation would rebound under economic stimulus quarter by quarter, there were challenges and risks in the process of economic recovery worth to be concerned.
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