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China's GDP predicted to grow by 10.8% in '07

www.chinanews.cn 2007-07-08 16:28:33

(Source: Xinhua)

BEIJING, July 8 - China's GDP is expected to increase 10.8 percent in
2007, a report by the economic research center of Renmin University of
China said here Saturday.
The report also predicts that the country's investment will grow by 21.8
percent year on year in 2007, consumption will grow by 16.2 percent, and
trade surplus will rise by over 60 percent.
The GDP growth predicted by the university is paralleled with the
forecast of the People's Bank of China, the central bank, which said last
Monday that the country's GDP is expected to increase 10.8 percent in
2007.
On June 13 Chinese Premier Wen Jiabao presided a State Council meeting to
discuss the problems in China's economy, and the cabinet warned that
there was excessive growth in industrial production, trade surplus and
investment.
The central government said it is necessary to improve macroeconomic
regulation to prevent the economy from overheating.

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