| China predicts 2006 economic growth above 10% |
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| Wednesday,November 15,2006 Posted: 14:29 BJT(0629 GMT) 经商处 |
China's central bank put the country's economic growth at above 10 percent this year in a currency policy report for the third quarter released here Tuesday.
The report predicts that the consumer price index (CPI) for the whole year would stand at around 1.5 percent.
China's economy grew 10.7 percent in the first three quarters and CPI 1.3 percent. The economy would continue its strong momentum in the fourth quarter, says the report.
The central bank predicts that China's economic growth may slowdown in the future period due to the macro-control policies and global economic environment. It continues to say, however, the economy would develop fast and steadily as the driving force remains strong.
The central bank warned that the slowdown of fixed assets investment and bank loans in the third quarter is unstable and China still suffers imbalance in international payments. Inflation pressure is still there and such issues as energy saving and pollution prevention have remained to be resolved.
According to the report, the central bank would continue its prudent currency policy and put loan increase under reasonable control. Meanwhile, it would take comprehensive measures to speed up economic structural adjustment and carry out policies enlarging domestic demand.
At the beginning of the year, the Chinese government set the goal of 8 percent for this year's economic growth and 3 percent for CPI. China's economy has been growing at around 10 percent for three continuous years.
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