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China's gross domestic product is expected to grow about 8 percent this year as the economy recovers, an influential government think-tank said in a report released on Thursday.
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Eugene Hoshiko / AP |
China's annual GDP growth rate had slowed to 6.1 percent in the first quarter of this year but picked up to 7.9 percent in the second quarter, ending seven consecutive quarters of deceleration, as government support measures helped an economic recovery take hold.
The State Information Centre said in a report carried in the official Shanghai Securities News that investment remained the driver of the rebound in the world's third-largest economy, although a slide in exports was abating as the environment for overseas demand became less severe and government measures such as export tax rebates took effect.
China's exports are expected to fall 17.5 percent this year, it said, although imports were forecast to decline at a more modest 16 percent rate, and the trade surplus was likely to shrink to $220 billion.
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The report added that China's consumer prices should begin rising again before the end of the year, due in part to higher prices for oil and other resources, although surplus production capacity would restrain price increases.
It forecast the consumer price index would show a 0.5 percent decline year-on-year for 2009.
Data is a real-time snapshot *Data is delayed at least 15 minutes