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No second stimulus needed in China

07-23-2010 09:20 BJT

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Government officials say China is expected to maintain strong growth this year, and there's no need for a second round of stimulus.

The State Information center forecast economic growth of 9.5 percent this year. China's Commerce Minister, Chen Deming, said the government would maintain its consumption stimulus in the second half, and take an even longer view in its efforts to promote greater domestic consumption.

He also said the tightening campaign in the first half, including restrictions on multiple home purchases and loans for new projects, had successfully reined in excessive housing prices. It also curbed the rapid pace of loan growth, after a lending binge of 9.6 trillion yuan last year.

Editor:Zhang Jingya |Source: CNTV.cn

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