Think-tank sees 9.9% growth in economy
By Joy Wang |
December 8, 2010, Wednesday
|
Print Edition
Print Edition
CHINA'S economy may show a growth of 9.9 percent this year and could expand by nearly 10 percent in 2011, according to the Chinese Academy of Social Sciences.
In its annual economic report issued yesterday, the government think-tank said the main factors that might influence China's economy wouldn't change much next year, and macroeconomic policies would remain relatively stable.
It said there were three main factors: domestic economic dynamism, the global economic environment and the strength of China's macroeconomic policies.
The report said China had shifted more to an economy driven by domestic demand since 2008. But, at the same time, the country had relied more on investment to power growth.
China's trade outlook remains uncertain next year because of the complicated economic situation in external markets, especially in Europe and the United States, it said.
The academy's forecast was in contrast to the World Bank, which projected that China's economy might grow by 9.5 percent this year and 8.5 percent in 2011.
China's gross domestic product expanded 10.6 percent annually in the first three quarters of the year.
In its annual economic report issued yesterday, the government think-tank said the main factors that might influence China's economy wouldn't change much next year, and macroeconomic policies would remain relatively stable.
It said there were three main factors: domestic economic dynamism, the global economic environment and the strength of China's macroeconomic policies.
The report said China had shifted more to an economy driven by domestic demand since 2008. But, at the same time, the country had relied more on investment to power growth.
China's trade outlook remains uncertain next year because of the complicated economic situation in external markets, especially in Europe and the United States, it said.
The academy's forecast was in contrast to the World Bank, which projected that China's economy might grow by 9.5 percent this year and 8.5 percent in 2011.
China's gross domestic product expanded 10.6 percent annually in the first three quarters of the year.
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