China's economy set for stable growth
Source: Xinhua |
August 9, 2011, Tuesday
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Print Edition
Print Edition
IT'S normal for China's economy to grow at a speed that fluctuates within a certain range, an official of the National Bureau of Statistics said yesterday.
The growth momentum of the world's second-largest economy is still strong with slight risks of a sharp decline in its growth rate, Xie Hongguang, the bureau's vice chief, said in his latest article.
"Despite a slowdown in economic growth during the first two quarters, the economy is still on a relatively stable and fast development, with the growth momentum shifting from policy stimulating to self-initiated growth," said the article posted on the bureau's website.
China's gross domestic product rose 9.5 percent on an annual basis in the second quarter of this year, tapering off slightly from the 9.7 percent growth posted in the first quarter and 9.8 percent in the fourth quarter of last year, according to the bureau's data.
The 9.6 percent economic growth rate in the first six months, though 1.5 percentage points lower than that of last year, is in line with the government's macro-economic target, Xie said.
He attributed the growth deceleration to government regulations and the removal of policy incentives.
Xie expected the country's investment to continue growing at a fast pace. Consumption will be further boosted by the growing incomes of urban and rural residents and an improving social security system.
Meanwhile, he said the government should keep its policies consistent and stable while making them more focused, flexible and foresighted because the country still faces complex economic situations at home and abroad.
The country's trade surplus will continue to be large despite contractions over recent months, Xie said.
The surplus fell 18 percent from a year ago to US$44.9 billion in the first half, according to data from the General Administration of Customs.
The growth momentum of the world's second-largest economy is still strong with slight risks of a sharp decline in its growth rate, Xie Hongguang, the bureau's vice chief, said in his latest article.
"Despite a slowdown in economic growth during the first two quarters, the economy is still on a relatively stable and fast development, with the growth momentum shifting from policy stimulating to self-initiated growth," said the article posted on the bureau's website.
China's gross domestic product rose 9.5 percent on an annual basis in the second quarter of this year, tapering off slightly from the 9.7 percent growth posted in the first quarter and 9.8 percent in the fourth quarter of last year, according to the bureau's data.
The 9.6 percent economic growth rate in the first six months, though 1.5 percentage points lower than that of last year, is in line with the government's macro-economic target, Xie said.
He attributed the growth deceleration to government regulations and the removal of policy incentives.
Xie expected the country's investment to continue growing at a fast pace. Consumption will be further boosted by the growing incomes of urban and rural residents and an improving social security system.
Meanwhile, he said the government should keep its policies consistent and stable while making them more focused, flexible and foresighted because the country still faces complex economic situations at home and abroad.
The country's trade surplus will continue to be large despite contractions over recent months, Xie said.
The surplus fell 18 percent from a year ago to US$44.9 billion in the first half, according to data from the General Administration of Customs.
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