China's economic growth is likely to slow slightly as investment and exports lower their current breakneck speed, state media reported Feb. 3. Overall economic growth in 2006 is expected to reach between 8.5%-9%, the Beijing Youth Daily said, citing a report from the National Development and Reform Commission.
This is down from a 9.9% expansion in 2005, reported late last month by the Chinese authorities.
Fixed-asset investment is forecast to grow by about 20%, down from 25.7% last year, amid government efforts to curb excessive spending on new capacity, the paper said.
Exports are likely to expand by about 15%, down by nearly half from 28.4% in 2005, according to the paper.
Private consumer spending is the only driver of economic activity not seen slowing significantly in 2006, with growth targeted at 12.5%, compared with 12.9% last year.
Copyright Agence France-Presse, 2006
