China aims at better economic growth in 2007

By Che Yuming and Liu Zheng (Xinhua)
Updated: 2006-12-16 15:22

China's economy will continue to steam ahead at 10 percent in 2007 and the central government is adopting new policies for better economic growth.

Major economic think tanks agree that growth rate will again hit double digits in 2007.
The World Bank is predicting 9.6 percent, the Chinese Academy of Social Sciences has chipped in with 10.1 percent, the State Information Center is hedging its bets with a range of 9.5 to 10.5 percent and the State Council Development and Research Center plumped for 10 percent.

"Stable growth" is the key phrase in the central authorities' plans for next year's economic performance.

"The most important thing for next year's economic performance is to... keep the economy growing at a stable and relatively fast rate and prevent any big ups or downs," says a statement issued by the central authorities at the end of last week's Central Economic Work Conference.

Analysts said strong momentum and a host of supporting factors are contributing to growth.

"Supply factors are positive," said Li Xiaochao, director of the comprehensive affairs department of the National Statistics Bureau.

Energy and transport bottlenecks that hampered economic growth have been alleviated, and banks are ready to supply funds, he said.

In addition, investment, consumption and exports all remain at a high growth level.
More key national projects will start construction next year, and profit margins are expanding for most ventures. Export will continue to surge.

"China's exports growth will continue to roar ahead and its trade surplus will last for quite some time," said Zhang Liqun, an economist with the State Council Development and Research Center.


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