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Chinanews, Beijing, Feb. 2 – Led by auto1 and real property industries, Chinese economy can maintain a high growth of at least 7-8% every year for the next ten years, said Liu Shijin, deputy director of the Development and Research Center of the State Council.
Chinese economy has maintained a high growth of at least 10% year on year for four consecutive2 years now. Whether such high economic growth can continue for a long time would depend on the development of leading industries, Liu said. At the beginning of the 1900s, the United States economy had maintained a high growth for a long time led by its automobile3, building and steel industries. Chinese economy at present is very similar to the United States economy at that time. The experiences of developed countries show that real property industry can usually grow for about two decades, while automobile industry can maintain growth for 20 to 30 years. Based on this, he predicted that led by automobile and real property industries, Chinese economy can maintain its growth for the ten years to come.
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