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Nation's GDP to grow at 8.7% in 2006: expert
(Xinhua)
Updated: 2005-11-11 13:27
A noted economist has predicted China's export is sure to decline in 2006,
which will slow down the country's GDP growth to a moderate 8.7 percent.
"The growth momentum is still there because China is in transition from
agricultural to industrial society -- a period for rapid economic growth," said
Zhao Xiao, a leading researcher for macro strategies with the State-owned Assets
Supervision and Administration Commission of the State Council.
Against a favorable backdrop of domestic and international settings, Zhao
said China's economy will continue to grow next year with continued investment
and consumption rises and robust domestic demand that will offset its export
decline.
China has maintained rapid economic growth this year, with industrial added
value and retail sales of consumer goods climbing16.3 percent and 13 percent
respectively over 2004, he told an annual forum on the real estate industry in
Nanning, south China's Guangxi Zhuang Autonomous Region.
In a recent quarterly update on China's economy, the World Bankalso forecast
8.7 percent GDP growth for China next year, down from 9.3 percent projected for
this year.
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