2009-07-21

标题 PK: 保增长、防通胀; 河北钢铁上半年实现利润4.72亿元

央行年中会议定调“保增长、防通胀”
河北钢铁集团上半年实现利润4.72亿元

Dueling Headlines:
China Central Bank Wary of Inflation
Though the indicators are still showing deflationary conditions in the wake of the economic collapse of 2008, inflation fears have been fueled by the liquidity the government has since pumped into the system. Much of that liquidity is believed to have been captured by the stock and property markets, raising the prospect of an asset bubble.

Analysts do not believe the central bank will adjust policy until 2010 or late 2009 at the earliest, when growth fueled by the stimulus becomes more firmly established. In the second quarter GDP growth rebounded sharply to 7.9 percent from 6.1 percent in the first three months. There is some way to go before the government achieves its full-year target of 8 percent growth but some fourth quarter projections for GDP are running as high as 10 percent.
Hebei Iron & Steel June Profit Surges 200%
Hebei Iron & Steel Group's June profit surged nearly 200 percent to 273.7 million yuan as an economic recovery spurred demand. China's steel products price index climbed to 101.98 points at the end of June, up about 20 percent from April's trough, as the government's huge infrastructure-focused stimulus package boosted demand.

China's 72 major steel companies booked aggregate profit of 1.3 billion yuan in May, breaking a seven-month string of losses, after a jump in demand and prices.

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