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China sees 2006 GDP growth slowing
(Reuters)
Updated: 2006-01-11 10:54 China's top economic planner expects Chinese
economic growth to slow slightly in 2006 and said the country's main task this
year would be to avoid deflation.
The National Development and Reform Commission forecast gross domestic
product would grow by 8.5 to 9 percent in 2006 in a report carried on Wednesday
by the official China Securities Journal.
Official data for 2005 has not yet been released but a vice minister
responsible for the commission has said that the economy grew by 9.8 percent
last year.
China's consumer price index (CPI) was expected to rise by only 1 percent in
2006, the report said. Growth in fixed asset investment would slow slightly to
20 percent.
"In the second half of the year, the CPI might enter into negative territory,
so there may be slight deflation," the commission said. "So the focus of
monetary policies should shift from preventing inflation to avoiding deflation."
Exports were forecast to grow 15 percent while imports were likely to rise 18
percent, according to the report.
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