China economy could be starting slowdown: report
China's economic growth will slow to 10.4 pc this year, likely marking the start of a slowdown which could take several years, according to a new report released.
By Agencies |
SHANGHAI: China's economic growth will slow to 10.4 pc this year, likely marking the start of a slowdown which could take several years, according to a new report released on Monday.
The report from People's University in Beijing, in tandem with Shanghai firm Donghai Securities, said China will face challenges ahead from the weakening global economy.
"The slowdown in the global economy and rising inflation are essentially signs of an adjustment in the global economic cycle," said the report, which was published in the official China Securities Journal.
China's gross domestic product expanded by 10.6 percent in the first three months of 2008 from a year earlier, easing from 11.9 pc for the full year of 2007.
"The slowdown in economic growth in 2008 is not short-term temporary adjustment, it's the beginning of a downward section in the cycle," Liu Yuanchun, an economist with the university said.
The report expected China's consumer inflation rate to stand at 7.1 pc in 2008, sharply up from 4.8 pc in 2007.
The trade surplus this year is seen at 258.8 bn dollars, shrinking from 262.2 bn in 2007, the report said, citing a decrease in external demand and a stronger domestic currency as the main reasons.
The report from People's University in Beijing, in tandem with Shanghai firm Donghai Securities, said China will face challenges ahead from the weakening global economy.
"The slowdown in the global economy and rising inflation are essentially signs of an adjustment in the global economic cycle," said the report, which was published in the official China Securities Journal.
China's gross domestic product expanded by 10.6 percent in the first three months of 2008 from a year earlier, easing from 11.9 pc for the full year of 2007.
"The slowdown in economic growth in 2008 is not short-term temporary adjustment, it's the beginning of a downward section in the cycle," Liu Yuanchun, an economist with the university said.
The report expected China's consumer inflation rate to stand at 7.1 pc in 2008, sharply up from 4.8 pc in 2007.
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The trade surplus this year is seen at 258.8 bn dollars, shrinking from 262.2 bn in 2007, the report said, citing a decrease in external demand and a stronger domestic currency as the main reasons.
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