Will China Keep Slowing – Terence Poon

From The Wall Street Journal:

China’s macroeconomic tightening measures have slowed growth in the third quarter, but whether the slowdown will continue remains uncertain, the government’s top statistician was quoted by the official Xinhua News Agency as saying.

“Macroeconomic tightening is proceeding as planned … but its effect still isn’t on a firm footing,” said National Bureau of Statistics Commissioner Xie Fuzhan at an economic conference in Suzhou, in eastern China, according to Xinhua.

Longstanding problems remain, including distortions in the international balance of payments and high consumption of resources and energy, said Mr. Xie, according to the report.

Mr. Xie’s remarks came after China said last week that its economy expanded an inflation-adjusted 10.4% in the third quarter from the same period a year earlier. The rate was slower than the 11.3% annualized growth in the second quarter, but was ahead of the 10.3% gain achieved in the first quarter.

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