Economy likely to steady during Q2

Bank of China report predicts GDP growth may rise to 7.2 percent as positive changes take effect

A Bank of China Ltd report has predicted China's economy to stabilize in the second quarter of this year, and GDP growth to rise from around 7 percent in the first quarter to 7.2 percent in the second.

Zhou Jingtong, a senior economist with the bank's Institute of International Finance, said in the report on Monday that while the economy continues to slow, "we are seeing a series of positive changes emerging from the recent economic moves, such as the rapid growth of private investment and strong profit growth in the equipment and high-tech manufacturing industries".