Economic Trend News
- Economy to grow 11.5 percent in 2007
Date: 22-Nov-2007 Sources: (Shenzhen Daily)
THE Chinese economy, the world's fourth largest, would grow by 11.5 percent this year, well above last year's rate, Premier Wen Jiabao was quoted as saying in domestic media Wednesday.
Wen also cautioned against overheating of the economy in remarks to Chinese students and embassy staff during a stay in Singapore, the China Daily said.
China's economy expanded by 11.1 percent in 2006, with 2007 likely to become the fifth consecutive year of double-digit growth.
Wen warned against inflation, which lingered at a 10-year high of 6.5 percent last month, and stressed the government must make sure that price hikes did not get out of hand.
'Only by achieving that can we enable the economy to grow in a stable and healthy manner,'Wen said.
A State think tank has forecast China's economy would expand 11.2 percent in the last three months of 2007, down from 11.5 percent in the previous quarter.
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