China’s caution on stimulus to hold back growth: S&P

China will be one of the best-performing economies this year, though its cautious approach to stimulus measures may disappoint expectations for growth next year, Standard & Poor’s said in a report.

The Mainland economy is likely to grow about 2 percent this year.

“No other G-20 economy is likely to match the speed of China’s rebound,” said Shaun Roache, Asia-Pacific chief economist at S&P Global Ratings. “However, consumption remains proportionally weak and financial conditions have tightened. The cautious approach to stimulus is helpful for the sustainability of medium-term growth but it may disappoint expectations for next year.”