Central bank forecasts China's growth
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The central bank says China's economy should grow by 10.5 percent this year, state media reported Sunday, even stronger than the 10 percent predicted last week by the National Bureau of Statistics.
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Central bankers' economic forecast points to neutral monetary policy in coming months.
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A World Bank expert said the year 2004 is going to be a good year for China as the country&#39;s economy will grow rapidly with higher-than
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Chinese capital spending in November  barely slowed from record heights despite curbs on lending,  showing that the central bank's task in keeping the economy  from overheating remains formidable.
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China's economic growth is expected to slow slightly next year to a still robust 10.9 percent, with inflation at 4.5 percent, the central bank's research bureau said in a forecast reported Friday by a government newspaper.
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China&#39;s real gross domestic product (GDP) is projected to average around 9 percent in 2004 andto slow to about 7.5 percent in 2005, the International Monetary Fund (IMF) said Wednesday.
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China's economy accelerated to 9.5 percent growth in the year through the fourth quarter, exceeding forecasts and raising the risk of another interest rate increase to avoid overheating.
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Interest rate hikes won't slow China's overheating GDP. Expect new controls on investment and credit.
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China's central bank on Thursday raised  interest rates for the first time in nearly a decade in its  boldest move yet to guide its heated economy to a path of  slower growth.
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China will maintain a stable monetary and yuan policy as it tries to keep inflation in check, state media cited a central banker as saying, amid resurgent speculation Beijing may tinker with the rigidly held currency.
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China grew 11.4 percent in 2007, the fastest pace in 13 years, but is headed for a modest slowdown this year as global demand weakens and credit curbs to cap inflation ripple through the economy.
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Chinese capital spending in November barely slowed from record heights despite curbs on lending, showing that the central bank's task in keeping the economy from overheating remains formidable.
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China, having surprised the world 10 days ago with its first interest rate rise in nine years, took another unusual step last week by publishing for the first time the annual report on its economy by the International Monetary Fund.
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The head of China's central bank  said on Sunday Beijing's efforts to curb excessive credit  growth were bearing fruit, increasing chances the country's  booming economy would achieve a "soft landing."
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China's central bank raised interest rates Thursday for the first time in nearly a decade, signaling a deep unease with the breakneck pace of development and an intent to curb fears of runaway inflation.
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China has succeeded in curbing investment and credit growth, and the priority now is to free up interest rates, a central banker said in remarks that may signal long-awaited capital market reforms are drawing nearer.
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China's central bank has pledged to  strengthen efforts to effectively manage the amount of cash in  the financial system, according to the summary of a meeting  held earlier this week that was published on Wednesday.