China's Q2 GDP expected to grow 7.5% y-o-y

BEIJING, July 9 (Xinhuanet) -- Last week, China’s central bank laid out its plans to tap idle capital and make better use of incremental capital in a bid to speed up China’s economic transformation.

The PBOC says China will carry on with its prudent monetary policy. Now with the latest inflation figure just out, we have further signs that the central bank is unlikely to slash interest rates in the near term.

Experts say the government’s focus on reforms may "bring short-term pain before reaping long-term gain", because credit growth is expected to be modest. But we’re waiting to see how serious the pain will be as China’s second quarter gross domestic product data is set to be published on July 15.

Many experts expect that the figure will decelerate to around 7.5 percent on an annual basis, the slowest pace in over two decades.

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