"There are greater opportunities for expansion as the currency (the renminbi) undergoes rapid internationalization. That requires commercial banks to provide more credible and convenient services overseas to satisfy client demand."

Xiao Gang, chairman of Bank of China Ltd, calling on commercial banks to boost support for Chinese companies expanding overseas.

"We are still facing a complicated and severe situation in foreign trade. But China's core competitiveness in manufacturing will not see significant changes in the short term."

Zheng Yuesheng, a spokesman for the General Administration of Customs, responding to slowing annual export growth of 11.3 percent last month.

"The economy is likely to stabilize and even recover modestly in the second half as such policy measures show results. ... Falling consumer inflation creates room for monetary policy easing."

Yu bin, director of macro-economic research department of the Development Research Center, saying that China's economy will recover steadily in the second half as policy stimulus gains traction. But he added that if the growth picks up in the third quarter, the room for further cuts in interest rates will narrow significantly.

(China Daily 07/13/2012 page14)