From Bloomberg News:
China’s economic expansion will accelerate this year as investment and exports continue to grow at a rapid pace, the central bank’s research bureau said.
Gross domestic product will likely increase 10.3 percent in the first half and 10 percent for the full year, the People’s Bank of China said in a report, published today in the state-owned China Securities Journal. China’s economy grew 9.9 percent in 2005, overtaking the U.K. as the world’s fourth largest.
Premier Wen Jiabao said in April he wants curb to an expansion by factories, which has caused an oversupply of goods in China and pushed global commodities prices to records. The government is seeking to avoid a sudden economic slowdown in China, the world’s biggest market for steel and second-largest oil user, by shifting its focus to raising incomes and consumer spending.[Full Text]
See “China: Big Economy, Bigger Peril? – Brian Bremner” for more.
