Home / Business / News Tools: Save | Print | E-mail | Most Read | Comment
China's Economy May Grow Slightly Slower
Adjust font size:

China's economy may expand slightly slower in the second half of 2007 than the first half, an official with the State Information Center said Saturday.

China's gross domestic product will likely grow by 11.3 percent this year, Fan Jianping, forecasting department chief of the center under the National Development and Reform Commission, said at an investment forum.

China's GDP expanded 11.9 percent in the second quarter this year, lifting first-half growth to 11.5 percent, the National Bureau of Statistics announced in July.

The official forecast that China's trade surplus will soar 55 percent year-on-year to US$275 billion this year despite rising yuan and scrap of or cut in export rebates.

Fan estimated the urban fixed asset investment will rise 26.1 percent this year, 1.6 percentage points higher than a year ago.

"The high growth in fixed asset investment will make the current problem of overproduction more serious in the future," Fan said.

The industrial output is likely to grow 17.6 percent in 2007, one percentage point higher than in 2006, he said.

Fan said the growth momentum in retail sales will continue in the second half, boosted by rapid income rise expectation and increasing stronger consumer confidence.

He said the retail sales for the whole year will likely grow by 15.8 percent, 2.1 percentage points higher than last year and the highest growth since 1997.
 
(Xinhua News Agency August 5, 2007)

Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
Most Viewed >>

Nov. 1-2 Tianjin World Shipping (China) Summit
Nov. 7-9 Guangzhou Recycling Metals International Forum
Nov. 27-28 Beijing China-EU Summit
Dec. 12-13 Beijing China-US Strategic Economic Dialogue

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?