Mixed economic data, the number of index record year low in July 

The relevant departments of last week have announced a number of economic data, which, PPI for five consecutive months negative growth, the industrial growth down again, indicating the economy is still hovering at the bottom. Bureau of Statistics data show that the July PPI up 2.9% lower, reduced by 0.8%, reflecting the pressure at a high level of the enterprise to the inventory. The industrial added value in July from a year earlier, up 9.2%, with the slowdown in the growth rate of 9.5 percent in June, marking the lowest since May 2009, China's industrial added value slowdown in the third month in a row. 

In addition, the "troika" of poor performance. BEIJING Finance channel comparison, the July investment in fixed assets rose 20.4 percent over last year, unchanged from the growth rate of January-June, but worse than market expectations. Retail sales growth slowed in July, retail sales grew 13.1%, and 17 month low since March, a record 2011. July foreign trade data released by the General Administration of Customs in the doldrums, the month of July, China's import and export value of $ 328.73 billion, an increase of 2.7%. Which exports only by 1 percent, the lowest level in six months, the imports increased by 4.7%, highlighting the annual import and export of donated 10% of the target difficult. 

The central bank data show that the yuan new loans in July to 540.1 billion yuan, is widely expected to hit its lowest level since October 2011, lower than the market. The analysis that shows the current lack of demand for credit, the bottom of the economic growth hovering reality. 

In addition, CPI monthly year-on-year growth rate of 1.8 percent to a record 30 months since the February 2010 low. The CPI fell further for the government to run monetary policy to reserve the room for maneuver. Previously announced by the central bank in the second quarter monetary policy implementation report pointed out that the central bank will continue to implement prudent monetary policy, economic growth slowed, inflation reduced level changes in the situation, timely and appropriately to increase efforts to fine-tune the presetting. 

The markets expect the introduction of stimulus policies to boost the economic and monetary policy easing the intensity of or an increase in 

Recently published a series of macroeconomic data are weak, and analysts generally expected that the Government may introduce new stimulus measures to boost the economy. According to the Beijing News reported on the 11th, Goldman Sachs, China's macro-economists Yu Song, given the current economy is in deflation of the edge and the outside needs in the short term is difficult to significantly improve the decision-making is expected in the coming months to maintain a relaxed position. But in view of the various policy restrictions, the end of 2008 and early 2009, large-scale stimulus is unlikely to reproduce, and even as large easing in the second half of 2010 may not appear. He said that the policy is expected to relax the intensity, which should promote economic growth and a return to near the level of the trend line will be maintained since May. 

China International Capital Corporation Limited chief economist Peng Wensheng expected, the policy will be further tilted to the "steady growth", to maintain a certain relaxation of efforts. He believes that government-led investment in infrastructure will continue to maintain a high growth rate in the third quarter. 

Sluggish growth of new loans, coupled with the CPI growth rate down, the PPI for five consecutive months of negative growth, the resurgence of the market for interest rate cuts voices. HSBC Greater China chief economist Qu Hongbin, China National Radio interview on the 10th, on the one hand, is relatively weak demand, on the other hand the inflation decline is faster, the next policy easing is likely to intensify. He pointed out that three quarters of an opportunity to cut interest rates twice lowered the deposit the precision of the measure.