Premier: Economy to grow by 11.5%

By Le Tian (China Daily)
Updated: 2007-11-21 06:58

 China's Premier Wen Jiabao speaks during the launch of the Business China programme at the National University of Singapore November 19, 2007. Wen said on Tuesday that China's economy is expected to grow 11.5% this year. [Agencies]

SINGAPORE: China's economy is expected to grow 11.5 percent this year, Premier Wen Jiabao said Tuesday.

Wen, in Singapore on a four-day official visit and to attend a series of Association of Southeast Asian Nations meetings, made the forecast when meeting embassy staff and representatives of Chinese entrepreneurs and students.

China has enjoyed 9 percent year-on-year growth for 30 consecutive years while growth surpassed 10 percent in the past five years, he noted.

But he stressed that the government must prevent the economy from overheating; and make sure that structural price rises do not move toward high inflation.

"Only by achieving that can we enable the economy to grow in a stable and healthy manner," he said.

The consumer price index reached a decade-high 6.5 percent last month, matching the peak in August, with prices of foodstuffs rising 17 percent year-on-year.

Wen also called for efforts to transform the economic development mode to emphasize efficiency.

"An important task for us is to continue our efforts in energy conservation and pollution reduction."

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