Chinese brokers confident about 8% GDP growth in 2009

BEIJING, Dec. 21 (Chinese media) -- More than 20 brokerages

in the country reached the agreement that the country would adopt looser

monetary and fiscal policies next year. Most of them expect the economy to grow

at 8 percent or more.

China Galaxy Securities, Central

China Securities and Bohai Securities said the growth rate would be between 8.5

percent to 9 percent. Guotai Junan Securities, less optimistic, forecast a 7

percent growth rate.

Shenyin Wanguo Securities said the country's

economy is still　facing pressure from periodic adjustment and will grow more

slowly over the next two years.

Their views differ in terms of when the lowest growth

would occur. Changjiang Securities said that would probably happen before the

second quarter next year. Guotai Junan said the third quarter. Shenying

Wangguo and Haitong Securities said 2010 would likely see the lowest figure.

However, the brokerages have growing concerns over

deflation in2009.Guotai Junan said the country's economy is likely to experience

deflation next year but if a looser monetary policy is carried out　and

investors' confidence rallies, the economy would enter a milder inflation

period.