China Watch Blog has learnt that China’s annual GDP growth is expected to reach 9.2 percent this year and continues to experience a moderate cooling in 2012.
Expansion of the country’s industrial production in 2012 will also witness a growth pace that is one or two percentage points lower compared with this year, Huang Libin, an official at the Ministry of Industry and Information Technology, was quoted as saying in a China Daily report.
Huang expected the country’s industrial value-added output to rise by around 14 percent year-on-year this year.
Growth of exports, one of the major engines for the world’s second largest economy, may slow further next year amid sovereign-debt morass in other countries, rising protectionism and increasing pressure for the yuan to appreciate, he said.
“Although the current moderation is in line with the country’s macro-economic regulations, the trend of an acceleration in the slowdown should be monitored,” he said.
He noted that one of the government’s tasks next year should be to prevent major economic fluctuations caused by increasing uncertainties both at home and abroad.
Huang also said the timing and strength of regulations should be better tailored to prevent them having an accumulated impact on economic growth.If you think China Watch Blog's information is useful, click on cup of coffee on left hand side and make a small contribution via PayPal