MNI China Press Digest April 15:GDP, Consumption, Vaccines

The following lists highlights from Chinese press reports on Thursday:

• China's Q1 growth may jump by 19.4% y/y, supported by active production, strong exports, a surge in housing-related purchases and a rebound in real estate investment, the Economic Information Daily reported citing economist Li Chao of Zheshang Securities. Li's double-digit growth predictions are shared by other economists, the Daily said. Macro policies are likely to be maintained as the recovery is fragile, with government providing strong fiscal support, abundant liquidity and continued support to SMEs, the newspaper said citing Wang Yiming, a member of the PBOC monetary policy committee.
• China's consumption should continue to rise in the 2nd quarter as more pandemic restrictions over services are loosened and travel rebounds, while prices of raw materials and demand for electronics and cars are all rising, the China Securities Journal said citing Li Zhan, Chief economist of Zhongshan Securities. Rising wages and salaries and export demand also supported consumption, the newspaper said citing Fu Yifu, director of the Suning Financial Research Institute. Government promotion of international trade and expanding rural ecommerce also helped lift consumption, said the Journal.
• China should speed up the vaccination process or risk being shut out of a re-opening world and also risk its ability to host the Winter Olympics next year, the Securities Times said citing Peng Wensheng, the chief economist with China International Capital Corp. Peng, who said he submitted his views in a recent group meeting with Premier Li Keqiang, suggested the government should assume more public-sector debt to cope with the pandemic, as letting the private sector rack up debt is unsustainable. Peng also told the Premier that annual growth may reach 9%, the Times reported.