BBG: China Daily report State researcher Zhu says ;

• Expects more rate cuts ,2-3 more RRR cuts in 2012 and may reduce reserve requirements for banks 2 or 3 more times .
• Chinese economic growth will rebound in 3Q after hitting bottom in 2Q.
• GDP growth may be 8% in 3Q and 8.3% in 4Q, with full year 2012 around 8%.
• New Yuan lending in 2012 may reach 9 trln Yuan and M2 may grow 14%.
• Infrastructure will be the “main destination” for investment.
• Subways and airports are “good choices” for infrastructure investment.
• Says deflation unlikely to occur in China .

Thought I saw another report about 2Q GDP estimate at 7.2%.. Think we have about 2 hours to go . Aussie $ at 1.0135 after touching low of 1.0120.