China's economy expected to grow by 10.8% in Q2

China's economy expected to grow by 10.8% in Q2

As a result, the center said, the trade surplus would hit 52.4 billion U.S. dollars in the second quarter and 98.8 billion dollars in the first half. That means a year-on-year growth rate of 38.8 percent in the second quarter, about 24 percentage points lower than in the same period a year ago.
The CPI is expected to grow by 2.9 percent in the first half of this year, the center said. It grew by 2.7 percent in the first quarter, and 3.3 percent in March, surpassing the central bank's 3 percent warning level. The upward trend in the CPI has been driven by a pickup in demand as a result of strong consumption, exports and excessive liquidity.
Grain prices, which have been rising regularly since last year, will continue to rise until autumn, the report warned, because grain production could stay flat.
Rising real estate prices are another factor contributing to the increase in the CPI. The situation could lead to higher rents, which is one part of the CPI, the report said.