經(jīng)濟(jì)學(xué)家和分析師指出，隨著疫情影響減退，復(fù)工復(fù)產(chǎn)逐步推進(jìn)，政府出臺(tái)更多扶持政策，中國(guó)第二季度有望實(shí)現(xiàn)經(jīng)濟(jì)正增長(zhǎng)。

China will likely post positive economic growth in the second quarter of the year, and growth is projected to pick up in June with the gradual resumption of work and production, according to economists and analysts.

經(jīng)濟(jì)學(xué)家和分析師稱，中國(guó)第二季度有望實(shí)現(xiàn)經(jīng)濟(jì)正增長(zhǎng)，隨著復(fù)工復(fù)產(chǎn)逐步推進(jìn)，6月經(jīng)濟(jì)增速將會(huì)加快。

They said policymakers will introduce more policy easing such as stronger support for infrastructure, more supplementary fiscal relief and a lowering of banks' actual lending rates to cushion the impact of COVID-19 and stabilize overall growth in the coming months.

專家表示，為了緩和新冠疫情的沖擊，并在未來(lái)數(shù)月保持整體經(jīng)濟(jì)增長(zhǎng)的穩(wěn)定，決策者將會(huì)出臺(tái)更多寬松政策，包括加強(qiáng)對(duì)基礎(chǔ)設(shè)施的支持，追加財(cái)政補(bǔ)貼，以及降低銀行的實(shí)際貸款利率。

Their comments came as China's producer prices rose in May at their slowest rate since March 2021, as the government took steps to coordinate COVID-19 control measures with economic development and stabilize industrial and supply chains in key sectors, leaving room for more policy stimulus to shore up the economy.

由于政府采取措施統(tǒng)籌推進(jìn)新冠防控和經(jīng)濟(jì)發(fā)展，穩(wěn)定重點(diǎn)行業(yè)的產(chǎn)業(yè)鏈和供應(yīng)鏈，并為更多穩(wěn)增長(zhǎng)政策出臺(tái)留出了空間，5月份的工業(yè)生產(chǎn)者出廠價(jià)格漲幅降到了2021年3月以來(lái)的最低水平。

Zhong Zhengsheng, chief economist at Ping An Securities, said the economy is gradually returning to normal, and China will likely see positive growth in the second quarter as the impact of the pandemic gradually eases and the government implements more measures to stabilize growth.

平安證券首席經(jīng)濟(jì)學(xué)家鐘正生指出，眼下經(jīng)濟(jì)正逐漸回歸常態(tài)，隨著疫情影響慢慢消退，政府實(shí)施更多穩(wěn)增長(zhǎng)措施，中國(guó)第二季度有望實(shí)現(xiàn)正增長(zhǎng)。

"For China's economy, the worst moment might be over, and the country's economic recovery is expected to accelerate in June," Zhong said.

鐘正生表示，對(duì)中國(guó)的經(jīng)濟(jì)而言，最糟的時(shí)刻可能已經(jīng)過(guò)去，6月份中國(guó)經(jīng)濟(jì)復(fù)蘇有望加快。

China's producer price index, which gauges factory-gate prices, increased 6.4 percent year-on-year in May, following an 8 percent rise in the previous month, the National Bureau of Statistics said on Friday.

國(guó)家統(tǒng)計(jì)局6月10日發(fā)布的數(shù)據(jù)顯示，5月份全國(guó)工業(yè)生產(chǎn)者出廠價(jià)格同比上漲6.4%，而4月份全國(guó)工業(yè)生產(chǎn)者出廠價(jià)格同比上漲8.0%。

China's consumer price index, the main gauge of inflation, rose 2.1 percent year-on-year in May, unchanged from April, the NBS data showed.

國(guó)家統(tǒng)計(jì)局的數(shù)據(jù)顯示，5月份中國(guó)的居民消費(fèi)價(jià)格指數(shù)同比上漲2.1%，漲幅與上月相同。居民消費(fèi)價(jià)格指數(shù)是衡量通貨膨脹的主要指標(biāo)。

Lu Ting, chief China economist at Nomura, said both PPI and CPI inflation for May were largely in line with market expectations and his team expects PPI inflation to trend down and CPI inflation to rise modestly.

野村首席中國(guó)經(jīng)濟(jì)學(xué)家陸挺表示，5月份的工業(yè)生產(chǎn)者出廠價(jià)格指數(shù)和居民消費(fèi)價(jià)格指數(shù)與市場(chǎng)預(yù)期基本一致，他的團(tuán)隊(duì)認(rèn)為，工業(yè)生產(chǎn)者出廠價(jià)格指數(shù)未來(lái)呈下降趨勢(shì)，而居民消費(fèi)價(jià)格指數(shù)會(huì)小幅上漲。

"Due to weak demand, supply disruptions in China since early March as a result of the resurgence of COVID-19 have not led to a rapid rise in domestic inflation," Lu added.

陸挺指出，由于三月初以來(lái)國(guó)內(nèi)新冠疫情反復(fù)導(dǎo)致需求疲軟、供應(yīng)中斷，從而未引發(fā)國(guó)內(nèi)通脹率快速上升。

In fact, compared with soaring prices in other major economies, China's overall price level is within a controllable range. The inflation hit a new 40-year high in May in the United States, as the CPI rose 8.6 percent year-on-year, the US Labor Department data showed on Friday.

事實(shí)上，和其他主要經(jīng)濟(jì)體的物價(jià)飛漲相比，中國(guó)的整體物價(jià)水平仍在可控范圍內(nèi)。美國(guó)勞工部6月10日的數(shù)據(jù)顯示，美國(guó)5月份的通貨膨脹率創(chuàng)下了40年來(lái)的新高，消費(fèi)者價(jià)格指數(shù)同比上漲8.6%。

Wen Bin, chief researcher at China Minsheng Bank, said China's overall inflation level is generally controllable, suggesting that the nation has room to step up macro policy support.

民生銀行首席研究員溫彬指出，中國(guó)的整體通脹水平總體可控，這表明中國(guó)有足夠的空間可以加大宏觀政策支持。

Warning of downward pressure facing China's economy, Wen said the government needs to forcefully implement macro policies to stabilize growth and ensure economic growth within a reasonable range in the second quarter. More efforts should also be made to boost credit supply to the real economy, ensure supplies and stable prices, and prevent imported inflation risks.

但是，溫彬警告，中國(guó)經(jīng)濟(jì)仍面臨下行壓力，他指出政府需要強(qiáng)力推行宏觀政策來(lái)穩(wěn)增長(zhǎng)，確保第二季度的經(jīng)濟(jì)增速在合理范圍內(nèi)。政府還應(yīng)進(jìn)一步出臺(tái)措施來(lái)加強(qiáng)對(duì)實(shí)體經(jīng)濟(jì)的信貸支持，確保供應(yīng)和物價(jià)穩(wěn)定，并預(yù)防輸入性通脹風(fēng)險(xiǎn)。

The State Council recently unveiled a total of 33 measures covering fiscal, financial, investment, consumption and industrial policies to further stabilize the economy.

國(guó)務(wù)院近期出臺(tái)了穩(wěn)經(jīng)濟(jì)一攬子政策措施，共33項(xiàng)，涵蓋了財(cái)政、金融、投資、消費(fèi)和產(chǎn)業(yè)政策等。

China's credit expansion improved in May as the impact of the pandemic gradually eased. The increment in aggregate social financing－the total amount of financing to the real economy－was 2.79 trillion yuan ($420 billion) in May, up 839.9 billion yuan compared with the same period last year, the People's Bank of China, the country's central bank, said on Friday.

隨著疫情影響逐漸消退，中國(guó)5月份的信貸規(guī)模有所擴(kuò)大。中國(guó)人民銀行6月10日發(fā)布數(shù)據(jù)顯示，5月社會(huì)融資規(guī)模增量為2.79萬(wàn)億元，比去年同期多出8399億元。社會(huì)融資規(guī)模是指實(shí)體經(jīng)濟(jì)從金融體系獲得的資金總額。

Monetary conditions have been loosened as China's broad money supply, or M2, stood at 252.7 trillion yuan as of the end of May, up 11.1 percent year-on-year. The growth rate is 0.6 points higher than a month earlier, the central bank said.

央行數(shù)據(jù)顯示貨幣環(huán)境有所放松，5月末國(guó)內(nèi)的廣義貨幣（M2）余額為252.7萬(wàn)億元，同比增長(zhǎng)11.1%，較上月提升0.6個(gè)百分點(diǎn)。

Looking ahead, Robin Xing, Morgan Stanley's chief China economist, said policymakers may introduce more pandemic fiscal relief or bring forward some 2023 construction bond quotas to this year.

摩根士丹利中國(guó)首席經(jīng)濟(jì)學(xué)家邢自強(qiáng)表示，展望未來(lái)，決策者可以出臺(tái)更多疫情防控財(cái)政補(bǔ)貼，或在今年發(fā)放一部分2023年建設(shè)債券額度。

英文來(lái)源：中國(guó)日?qǐng)?bào)

翻譯&編輯：丹妮