SHANGHAI, Nov 13 — China’s annual GDP growth rate could reach 10 per cent in the fourth quarter as the economic recovery exceeds expectations, with full-year economic growth at about 8.3 per cent, state media quoted a senior government economist as saying.
Fan Jianping, chief economist with the State Information Centre, added that next year’s economic growth would certainly exceed 8 per cent but was unlikely to bring inflation risks, with the consumer price index possibly rising about 2.5 per cent.
He told a forum that China’s economic growth remained below its long-term potential growth rate and next year’s basic policy should aim for stable growth, structural adjustments and preventing inflation, the official Securities Times reported.
China’s economy has picked up over the course of the year, fuelled by government stimulus spending, with the annual GDP growth rate rising to 8.9 per cent in the third quarter from 7.9 per cent in the second and 6.1 per cent in the first, virtually assuring China of reaching its 8 per cent full-year growth target.
The World Bank last week raised its GDP growth forecast for China this year to 8.4 per cent from a prior forecast of 7.2 per cent, and projected 8.7 per cent growth for next year.
Yao Jingyuan, chief economist of the National Bureau of Statistics, told the same forum that, looking at data for the full year, China’s economy had achieved a V-shaped rebound, the Securities Times reported. — Reuters
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