Tags: China | Growth | Slow | 9.3% | Third | Quarter

China Growth May Slow to 9.3% in Third Quarter

Monday, 25 Jul 2011 03:09 PM

China's annual economic growth is likely to slow to 9.3 percent in the third quarter from 9.5 percent in the second quarter, with inflation staying stubbornly high, a think-tank said in forecasts published on Monday.

The forecast by the National School of Development at Peking University pointed to a continued slowdown in the world's second-largest economy, which grew at a 9.7 percent pace in the first quarter of this year.

"The rapid growth in the past 30 years will eventually slow down. The issue is when that will happen and how quickly," the official China Securities Journal quoted Song Guoqing, a professor at the school, as saying.

Though the economic data is not good, people shouldn't worry too much about it, said Song.

The gradual slowdown in the economy is an intended outcome of the government's policy tightening to bring inflation under control, analysts say.

Average annual inflation will hover around 5.9 percent in the July-September period, compared with 5.4 percent in the first half, far exceeding the government's full-year target of 4 percent, the center predicted.

Annual inflation hit a three-year high of 6.4 percent in June.

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China's annual economic growth is likely to slow to 9.3 percent in the third quarter from 9.5 percent in the second quarter, with inflation staying stubbornly high, a think-tank said in forecasts published on Monday. The forecast by the National School of Development at...
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2011-09-25
 

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