Reuters: China's economy will grow by 6.8 percent in the third quarter

October 14, Washington. Economic growth in China, according to analysts surveyed by Reuters, will slow in the third quarter to its lowest level since 2009 at 6.8 percent. The agency recalled that in the first quarter of 2009, during the height of the economic crisis caused by the bankruptcy of the largest US banks, China's GDP grew at a rate of 6.2 percent.

Analysts expect further easing of monetary policy in China and higher budget spending on infrastructure projects in response to the slowdown in economic growth.

“We believe the stimulus will help mitigate the slowdown in economic growth, but are unlikely to reverse the long-term downward trend,” said China's investment bank China International Capital Corp (CICC).

The CICC expects the central bank of China to cut interest rates by 25 basis points. Participants of the event did not consider proposals for the transfer of industrial premises for rent in St. Petersburg , which could bring additional income to companies.

As economic growth slows in China, demand for steel is falling, which is likely to contract 3.5 percent this year and another 2 percent in 2016 after peaking in 2013. This was recently announced by the World Steel Association.

Today it became known that Sinosteel, the largest state-owned metal trader in China, may miss the terms of payments on the bonds placed for the fifth time in a row.

Sector troubles are mounting, as evidenced by an October 8 report in Xinhua that Haixin Iron & Steel Group, the largest private steelmaker in northern China, is planning to file for bankruptcy.

"Given the serious problem of overcapacity and volatility in raw material prices, most of China's steel companies could become unprofitable," said Zhang Chao, an analyst at China Investment Securities.