MNI China Press Digest April 6: CPI, Anti-China, Q1 GDP

The following lists highlights from Chinese press reports on Tuesday:

China's March CPI is predicted to rise 0.4% both month-on-month and year-on-year in March, compared from 0.6%% and -0.2% in February, the Economic Information Daily said citing Li Chao, chief economist of Zheshang Securities. A recovery in travel boosted related industries including aviation, hotel, and tourism, Li Chao told the newspaper.

China needs to manage any political friction with U.S.-led allies and not let it develop into stronger economic opposition, the state-run newspaper Global Times said in an editorial. Beijing should calibrate its actions more effectively to avoid stoking U.S. allies joining its anti-China policy, the newspaper said. A new cold war will be unlikely as long as China opposes the decoupling of the world economy, said Global Times. MNI notes that Chinese state media last month advocated boycotts against Western apparel makers including H&M and Nike for barring the use of Xinjiang cotton. The Times editorial, published under the official People's Daily, appears to be attempting to dampen the fervor.

China's first quarter GDP growth may have exceeded an annualized 20% given the rapid growth in investment, consumption and exports, the Shanghai Securities News reported. Retail sales may have jumped 28% y/y, the report said citing Zhu Jianfang, chief economist of CITIC Securities. Fixed-asset investment may ease to 28% from 35% in Jan-Feb, while infrastructure investment is expected to rise, according to Liu Xuezhi of Bank of Communications. The 32.4% jump in exports indicated stronger external demand, the News report said.