China’s GDP growth to slow to 9.2 percentNovember 20th, 2011 - 4:17 pm ICT by IANS
Beijing, Nov 20 (IANS) China’s GDP growth will slow down to 9.2 percent in 2012 from 9.4 percent this year, experts say.
The economic expansion will continue the easing trend in the first half of next year, a report by the Beijing-based Renmin University of China said Saturday.
China’s GDP slowed to 9.1 percent in the third quarter of this year from 9.5 percent in the second quarter and 9.7 percent in the first quarter as the government tightened monetary policy to contain inflation, China Daily reported.
To rein in excessive price rise triggered by a credit boom, the government has made inflation control its top priority.
The central bank has raised interest rates three times so far and hiked the reserve requirement ratio by six times.
The weakening growth has prompted the central bank to stand ready to fine-tone its monetary policy in an appropriate and timely manner to stay in line with economic changes.
The continuous economic slowdown will lead to a significant shift in the government’s macroeconomic policies, which will buoy the economy to avoid a double-dip recession, the University report said.
China will face bigger slowdown in growth of real economy, rising risks in fictitious economy and worsening structure problems next year, it said.
The report said China inflation will see a marked softening next year, with full-year rise at 3.3 percent.
The nation’s consumer price index (CPI), the main gauge of inflation, increased 5.5 percent in October year-on-year, marking the slowest rise since May.
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