China's investment growth is expected to remain on the relatively fast track while maintaining sustainable development in 2004, although slowing due to the government macro-control measures.

A growth of investment will sustain the country's rapid economic development and add fuel to the economic growth, said Cao Yushu, spokesman for the State Development and Reform Commission.

Speaking at the China Investment Summit, held yesterday in Hangzhou, capital city of East China's Zhejiang Province, Cao said the current overall performance of the economy is favorable for domestic and foreign investors.

"This year's gross domestic product is expected to increase by 9.4 percent, and is likely to reach 8 percent in 2005."

As the country's macroeconomic adjustment overcomes some unstable and unhealthy factors existing in economic life, the economic growth remains strong in 2004, Cao said.

The official said the growth of investment should be normal, which means it should keep fast and a sustainable development speed.

No sudden rise or collapse is expected, he added.

Cao pointed out that investors should pay attention to the entire country's investment structure, in which investment restrictions are imposed on some overheated industries.

(China Daily November 3, 2004)