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Chinanews, Beijing, Oct 31 – This year, the GDP growth in China might reach 11.3% and consumer price index (CPI) might stay at 4.3%, and it is expected that next year, China's GDP growth rate might reach 10% and CPI might fall to 3.5%, according to a recent report released by global financial services firm Morgan Stanley.
Although China practices a moderately tight financial policy to avert1 the fast-growing trend of the Chinese economy in the long run. It is expected that GDP growth for the whole year of 2007 will reach 11.3%. In 2008, GDP growth rate will fall to 10% and further drop to 9.5% in 2009. CPI growth rate will slow down in the next few months. For the whole year of 2007, CPI growth rate will reach 4.3% and might possibly decline to 3.5% in 2008, the report says. The report predicts that China will continue to follow a moderately tight economic policy by curbing2 the loan release. In addition, Chinese government will further raise the interest rates to control the economy. Inadequate3 domestic consumption and the slowdown of the US economy will cause a negative effect to the Chinese economy in future.
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