China's economy may expand slightly slower in the second half of
2007 than the first half, an official with the State Information
Center said Saturday.
China's gross domestic product will likely grow by 11.3 percent
this year, Fan Jianping, forecasting department chief of the center
under the National Development and Reform Commission, said at an
investment forum.
China's GDP expanded 11.9 percent in the second quarter this
year, lifting first-half growth to 11.5 percent, the National
Bureau of Statistics announced in July.
The official forecast that China's trade surplus will soar 55
percent year-on-year to US$275 billion this year despite rising
yuan and scrap of or cut in export rebates.
Fan estimated the urban fixed asset investment will rise 26.1
percent this year, 1.6 percentage points higher than a year
ago.
"The high growth in fixed asset investment will make the current
problem of overproduction more serious in the future," Fan
said.
The industrial output is likely to grow 17.6 percent in 2007,
one percentage point higher than in 2006, he said.
Fan said the growth momentum in retail sales will continue in
the second half, boosted by rapid income rise expectation and
increasing stronger consumer confidence.
He said the retail sales for the whole year will likely grow by
15.8 percent, 2.1 percentage points higher than last year and the
highest growth since 1997.
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(Xinhua News Agency August 5, 2007)
