China Macro:May data preview,Slowdown continues
类型：宏观经济 机构：麦格理证券股份有限公司 研究员：麦格理证券研究所 日期：2017-06-12
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China’s economy started accelerating from 1Q16 and peaked in 1Q17. It hasdecelerated since then and the trend continued into May. That said, theslowdown is a modest one and GDP growth in 2Q17 is on track for 6.7% yoy.
As such, the next couple of months will remain a window for policy makers todeleverage the financial system. The focus of policy makers will shift tosupporting growth sometime in 3Q17, when the slowdown threatens the 6.5%bottom line growth rate.
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