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ADB: China GDP to grow 8.5% in 2012

04-12-2012 09:29 BJT

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The Asian Development Bank says China's economic growth is set to moderate slightly over the next two years, but will exceed 8 percent.

It points out that fixed-asset investment will continue to be a major driving force for the nation’s economic development, and predicts an expansion of private consumption.

Moderate yet steady.

ADB: China GDP to grow 8.5% in 2012.

The Asian Development Bank predicts China’s GDP will grow at a slower rate of 8.5 percent this year, compared with 9.2 percent in 2011. The forecast is based on strong investment, rising private consumption and a more stable global economy. The bank also notes the Chinese government could boost public spending as the priority has been shifted to ensuring growth.

The ADB says fixed-asset investment will expand more than 20 percent in 2012 and 2013, thus maintaining its position as a major driving force for China’s economic development.

China’s private consumption is forecast to stay at around 12 percent in the next two years.

But the bank warns of possible risks and global uncertainties. It says the Chinese government should draw up effective policies to ensure a soft landing for the world’s second largest economy.



Editor:Zhang Rui |Source: CNTV.CN

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