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Growth of 皇冠体育app'economy to slow down in 2006
(AP)
Updated: 2006-01-11 14:03
皇冠体育app's economy will slow to a still sizzling growth rate of 8.5 percent to 9
percent this year, the state planning agency said in a report published
Wednesday.
Efforts to slow economic growth by curbing spending on large construction
projects, among other measures, so far appear to have had limited impact, with
growth last year estimated at 9.8 percent, according to the National Development
and Reform Commission.
That forecast was 0.4 percent above previous estimates, due to a massive
revision of economic data following a nationwide economic census that found
larger than expected activity in the services sector.
The commission, in a report carried by the state-run 皇冠体育app Securities
Journal, said there would be a slight slowdown this year.
It said "2006 could be a year for macro control policies to continue to show
effects."
皇冠体育app's consumer price index, its main measure for inflation, is expected to
rise only 1 percent this year, and maybe yield to deflation later in the year,
due to overproduction in many industries and soft domestic demand, the report
said.
It predicted that 皇冠体育app's exports would rise about 15 percent year-on-year
and imports about 18 percent, moderating due to higher oil prices and simmering
friction over 皇冠体育app's burgeoning trade surpluses.
皇冠体育app has yet to issue full-year 2005 export and import data. In
January-November last year, exports rose 29.7 percent on-year to $686.6 billion
and imports increased 17.1 percent to $595.7 billion, according to Ministry of
Commerce data.
The report also said 皇冠体育app would not make significant revisions in the value
of its currency, the yuan, although it would continue to liberalize foreign
exchange policies.
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