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过去的几年,投资与出口两个轮子高速运转,创造了令人艳羡的中国经济增长。年初以来,对中国经济增速下滑的担忧开始被全球资本和商品市场所讨论,“中国概念”开始褪色,一些国际证券机构劝导自己的客户渐进地卖出中国概念的股票。进入五月,上半年经济运行的一些重要数据相继出炉。宏观经济数据中上行和下行力量并存,既有显现“热”特征的指标GDP、房地产投资;又有显现“冷”迹象指标的银行贷款、工业企业利润和过快增长的企业产成品库存。以中国经济增长的引擎广东、上海、浙江为例,广东省省长黄华华在5月12日全省经济运行分析会议上,历数了“几个不可忽视的问题”:工业增速明显放缓,企业效益下降;煤电油运全面紧张,特别是电力供求矛盾十分突出;固定资产投资增速较慢;金融机构贷款增速回落;部分地区的经济增长速度
In the past few years, the two wheels of investment and export have been operating at a high speed, creating an enviable China economic growth. Concerns over the slowdown in China’s economic growth since the beginning of the year are beginning to be discussed by global capital and commodity markets. The concept of China has started to fade. Some international securities agencies have persuaded their clients to gradually sell Chinese-denominated stocks. Into May, some important data on the economic operation in the first half have been released. The coexistence of upside and downside strength in the macroeconomic data includes both indicators GDP and real estate investment showing “hot” characteristics, bank loans showing signs of “cold” signs, profits of industrial enterprises and inventories of over-grown enterprises’ finished goods. Taking China, the engine of economic growth, for example, Guangdong, Shanghai and Zhejiang Provinces, Governor Huang Huahua of Guangdong Province recorded “a few issues that can not be ignored” at the provincial economic analysis meeting on May 12: the industrial growth slowed down significantly, The profitability of enterprises dropped; Tensions of coal, electricity and oil companies were overall strained, especially the contradiction between supply and demand of electricity was outstanding; the growth of investment in fixed assets was relatively slow; the growth of loans to financial institutions dropped; the economic growth rate in some regions