21-02-07

Chinese economy slowing down?

China's economic growth to drop to single digits this year: report
Posted: 21 February 2007 1829 hrs

 
 
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A customer looks at the engine of an SUV at a dealership of Chery Automobile
  
 

BEIJING : Economic growth in China in 2007 will drop to single digits for the first time in five years, state media reported Wednesday, citing a senior government researcher.

The world's fourth-largest economy is expected to expand by nine percent this year, the China Daily said, citing Liu Shijin, deputy director of the Development Research Center, a think tank attached to the Cabinet.

This is down from 10.7 percent in 2006, the fourth consecutive year when China saw double-digit growth.

Liu predicted China would probably see growth rates of seven to eight percent in the coming decade, supported by the real estate and automotive sectors, the paper said on its website.

The paper did not provide a reason for the moderate slowdown in the economy beginning this year.

- AFP

 

Link: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

 

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