China’s GDP to be slower than past years – Xinhua

From Xinhua, via Australian News:

China is expected to see a fall in its GDP figure this year with the growth rate predicted at nine percent, the lowest for the past four years.

Liu Shijin, deputy director of the Development Research Centre of the State Council, a government think tank, said Tuesday that driven by the real estate and automotive industries, the Chinese economy will continue to grow at an annual average rate of seven-eight percent in the coming 10 years.

Over the past four years, the economy kept growing by more than 10 percent annually. ‘The high growth usually finishes in a cycle of five years,’ he said. [Full Text]