China’s economy to grow over nine percent in 2010

July 31st, 2010 - 1:29 pm ICT by ANI  

New Delhi, July 31 (ANI): China’s chief financial regulator has said the country’s gross domestic product (GDP) is expected to expand to over nine percent.

Xinhua quoted Yi Gang, the head of the State Administration of Foreign Exchange (SAFE), as saying on Friday that China’s GDP grew 11.1 percent in the first half of 2010 from the same period of last year.

Yi said China’s economic growth rate would eventually slow down because its economic base is expanding, while the country’s development faces huge pressure in fields of environmental protection, resources and energy.

“The restriction caused by environmental factors has been unprecedented, such as underground water, air, and carbon emission,” Yi said.

Yi said the priority of China’s economy is the quality of the growth.

“That’s why we have to restructure and transform growth modes — for improving the growth quality and the efficiency,” Yi said. (ANI)

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