Home>News Center>China

China predicts 9.3 percent economic growth
Updated: 2004-11-11 15:01

China's economy will grow by 9.3 percent this year, the government forecast Thursday, amid efforts to tame the economic boom.

China's gross domestic product for 2004 is forecast to increase to 13.4 trillion yuan, said the State Information Center.

Meanwhile, the National Statistics Bureau said that the producer price index, a leading indicator for consumer price movements, jumped at an annual rate of 8.4 percent in October. The index, which measures the cost of goods used in production, rose 7.9 percent year-over-year in September.

The bureau cited higher prices for crude oil, coal, steel and nonferrous metal prices as major factors behind the rise.

China's consumer price index, the country's main indicator for inflation, rose 5.2 percent in September, remaining near a seven-year high. The figure for October has not yet been released.

The government has sought to curb bank lending to property developers and ordered local governments to reduce construction projects, hoping to rein surging investment that is fueling inflation.

Meanwhile, the Ministry of Commerce reported that China recorded a trade surplus in October of US$7.1 billion, the sixth straight month of surpluses.

However imports also grew faster than expected, underpinned by rapid economic expansion.

Imports in October totaled US$45.43 billion, up 29.3 percent from a year ago, while exports grew at a 28.5 percent annual rate to US$52.53 billion, it said.

  Today's Top News     Top China News

Nation likely to be 3rd largest trading power



Nutritional imbalance plagues people



Mine blast kills 33, injures 6 in Henan



Coal mining: Most deadly job in China



Shen and Zhao win Cup of China



Consumer price remains stable in October


  Hu pledges strategic partnership with Brazil
  Coal mining: Most deadly job in China
  Mine blast kills 33, injures 6 in Henan
  Consumer price remains stable in October
  Work on anti-trust legislation stepped up
  Wen: Nation strengthens ties with Luxembourg
  Go to Another Section  
  Story Tools  
  News Talk  
  It is time to prepare for Beijing - 2008