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Lender sees GDP rising 9.5% in 2011
Source: Xinhua |
December 30, 2010, Thursday
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Print Edition
Print Edition
CHINA'S gross domestic product is forecast to grow about 9.5 percent in 2011, 0.5 percentage point lower than the growth rate expected for this year, a report issued by the Bank of China said yesterday.
The bank's report was based on projections of weak overseas demand, tighter monetary policy, and the government's planned economic restructuring for 2011.
The central government announced this month it will switch its monetary policy stance from relatively loose to prudent next year to tackle rising inflation and keep economic growth sustainable.
The report also said government policies to curb soaring property prices and efforts to improve energy efficiency had slowed the economy with GDP expansion dropping to 9.6 percent in the third quarter from the second quarter's 10.3 percent.
The report also forecast consumer prices to rise 4 percent next year, compared with the 3.3 percent increase expected for 2010.
The bank's report was based on projections of weak overseas demand, tighter monetary policy, and the government's planned economic restructuring for 2011.
The central government announced this month it will switch its monetary policy stance from relatively loose to prudent next year to tackle rising inflation and keep economic growth sustainable.
The report also said government policies to curb soaring property prices and efforts to improve energy efficiency had slowed the economy with GDP expansion dropping to 9.6 percent in the third quarter from the second quarter's 10.3 percent.
The report also forecast consumer prices to rise 4 percent next year, compared with the 3.3 percent increase expected for 2010.
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