From Financial Times:
China’s economy is estimated to have expanded 10.5 per cent in real terms in 2006, with nominal growth at 12.6 per cent, the country’s tax chief said on Wednesday.
The figures, announced a day before the scheduled official release of 2006 GDP data, showed the economy slowed slightly from the blistering growth of more than 11 per cent in the first quarter of last year.
But the 10.5 per cent figure is in line with expectations following the government’s mild austerity campaign in the latter half of the year, when it directed banks to slow lending and also lifted interest rates.[Full Text]
-Also see Why China Grows So Fast
