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Saturday, July 07, 2007 8:09:04 AM
China's economy to grow 10.9% in 2007
(Agencies)
Updated: 2007-07-04 13:50
China's economy is expected to grow 10.9 percent this year after a 10.6 percent increase in 2006, a government think tank report said Wednesday, urging further economic cooling measures.
The projected annual growth is supported by strong consumption and high levels of fixed-asset investment, said the State Information Centre, a research arm of the National Reform and Development Commission.
"The trend is of an economy that is moving from a bias of fast growth to overheating," the report published in the China Securities Journal said, adding that the economy was still in an "ascending period" of the cycle.
The forecast is a touch above the 10.8 percent projected last Friday by the research department of China's central bank.
The think-tank, which comes under the National Development and Reform Commission, China's top economic planner, said in a report published in the the China Securities Journal that growth would slow in the second half of the year.
China's economy, enjoying its fifth straight year of double-digit growth, expanded 11.1 percent in the first quarter.
-China Daily
EFGO+Global+CHINA= Perfect Together
Very exciting times for us as investors, we are catching a Huge Wave here. Just in time for the 2008 Olympics!
Have a GREAT Weekend All!
All IMO
Not a buy or sell recommendation; everything is IMO.
Go Rutgers Scarlet Knights! RU! <:))))><<
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