Archive for Friday, December 22, 2006

Bank: Strong economic growth to continue

December 22, 2006


— China's sizzling economy will slow slightly next year but still should grow by a robust 9.8 percent even as Beijing extends controls to cool an investment boom, the Central Bank said in a report published today.

The forecast was in line with outside estimates but well above the 8 percent target for 2007 set by a government strategy report released this month. It would be by far the highest growth rate for any of the world's major economies.

Growth this year should be 10.5 percent, according to the Central Bank report, which was carried on the Web site of the official China Securities Journal newspaper. That was in line with earlier official forecasts.

Communist leaders want rapid growth to reduce poverty.


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