MNI China Press Digest Sep 26: GDP, Sino-EU, Electric Vehicles

Highlights from Chinese press reports on Tuesday:

• China’s Q3 GDP growth is estimated to reach above 4.6%, slower than Q2’s 6.3%, as the higher comparison base for the same period last year kicks in, Securities Times reported citing the average forecast by eight economists. The economy will likely further recover in Q4 as consumption growth accelerates amid the Golden Week holiday and two major online shopping festivals. Exports may also grow, supported by a low base and improving overseas manufacturing activity, said Zhao Wei, chief economist at Sinolink Securities. Q4 GDP may rebound to around 5.2%, said Wen Bin, chief economist at China Minsheng Bank.
• China and the EU agreed to strengthen macroeconomic policy coordination, work together to address global challenges such as climate change, food and energy security, and maintain the stability of global economic and financial markets, said the spokesman of the Ministry of Commerce following the 10th China-EU High-level Economic and Trade Dialogue held on Monday in Beijing. Both sides agreed to build a stable industry and supply chain, establish a dialogue mechanism on export control, and accelerate market access to allow more EU agricultural products, and food to enter the Chinese market. (Source: MOFCOM Website)
• China believes the EU’s recent decision to launch an investigation into China’s electric vehicle trade practices will bring instability to the global automotive industry and supply chain, according to Wang Wenbin, foreign ministry spokesman. Wang, speaking at a recent press conference, said the EU’s move was not in the interest of either party and called on policymakers to create a non-discriminatory and predictable market environment for the common development of China-EU electric vehicle industry in accordance with the China-EU comprehensive strategic partnership. (Source: Yicai)