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Chinese economy sets for soft landing in 2005.
Member rating: No Rating | Words: | Submitted: Fri Jan 28 2005
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Chinese economy sets for soft landing in 2005: ADB (Beijing Time): 2004-09-23 09:54 China will succeed in cooling off an overheated economy and achieve a soft landing, according to a major Asian Development Bank (ADB) report released on Wednesday. The Asian Development Outlook 2004 Update, which forecasts economic trends in the region, said China's gross domestic product(GDP) economy is expected to grow by 8.8 percent in 2004 and slow to 8 percent in 2005. "The rapid pace of investment growth has slowed from the very high levels experienced in the first quarter of this year, reflecting the gradual impact of policy-tightening measures," saidBruce Murray, resident representative of ADB Resident Mission in China, at a press conference. Inflation is expected to moderate from slightly around 5 percent in mid-2004, and consumption is expected to increase by 13percent in 2005 supported by higher urban and rural incomes, he said. "China's rapidly growing...
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