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China's economy to grow 9.5 per cent in 2007
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aaron2810
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Post China's economy to grow 9.5 per cent in 2007 - November 13th, 2006

BEIJING: China's economy is forecast to experience a "moderate growth" of 9.5 per cent in 2007, with exports, domestic consumption and investment slowing down next year compared to this year, the latest report by the State Information Centre (SIC) has forecast.

Growth of the three main engines driving Chinese economic growth, namely, exports, consumption and investment, will slow down by various degrees next year, the SIC said.

Fixed asset investment is expected to hit 1.68 trillion US dollars in 2007, up 20 per cent, or 6.5 percentage points lower than its prediction for the year 2006.

Exports will jump 15 per cent in 2007, 9.5 percentage points slower than in 2006.

Trade surplus is expected to reach 177 billion US dollars, 30 billion US dollars more than that of 2006.

China's gross domestic product (GDP) grew by 10.7 per cent in the first nine months this year.

The government ha said that China will maintain its prudent monetary and fiscal policies in 2007 in face of possible heated investment, excessive bank loans and a surging trade surplus.

The monetary policy would also be prudent in a bid to maintain the continuity and stability of the macro-control policies, vice governor of the People's Bank of China (PBOC), Su Ning said recently.

China tightened fiscal policy two years ago in the hope of capping the galloping fixed asset investment and preventing possible overheating of the economy.
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