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CASS lowers China economic forecast

04-26-2012 11:06 BJT

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China's government think tank has adjusted down its forecast of the country's economic output and inflationary rate for 2012. The projections are included in its just-released spring report.

The Chinese Academy of Social Sciences predicts the economy will grow 8.7 percent this year, compared with its previous estimate of 8.9 percent. The Consumer Price Index, the main gauge of inflation, is expected to rise just 3.5 percent, down from 4.6 percent - and way below the annual target of four percent.

The report warns of financial risks posed by property loans as the clampdown on the real estate sector stays firmly in place. Chinese experts point to the bright side of a moderating economy -- they say it's helpful for economic restructuring and suggest that reforms in taxation, finance and income distribution be pushed forward.

 

 

Editor:Zhang Rui |Source: CNTV.CN

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