ADB lifts China 2004 GDP growth forecast to 8.8%
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THE ASIAN Development Bank (ADB) said it has raised its GDP growth forecast for China to 8.8 percent from 8.3 percent, but slightly scaled down next year&#39;s projection for the world&#39;s fastest-growing economy to 8.0 percent from 8.2 percent.
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China said yesterday that its economy grew at an 11.9 percent annual rate in the second quarter of this year, the fastest pace in more than a decade, reigniting fears the economy is overheating.
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India sharply raised its full-year growth forecast to 9.2 percent from an estimate of above eight percent at the start of the year on a surge in demand for services and manufactured goods.
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ChinaÂs trade surplus with the world ballooned last month to $18.8 billion as exports soared, according to preliminary customs figures.
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China has revised upward its gross domestic product (GDP) growth to 9.69 per cent during the first half of this year due to higher growth in service industries, the state media reported on Monday.
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China&#39;s annual economic growth surged  to an 11- year high of 11.9 percent in the second quarter,  cementing expectations for tighter policy to keep the world&#39;s  fastest-growing major economy from overheating.
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China&#39;s information technology industry is expected to see a sales revenue of $322.3 billion in 2004, up 42.3 per cent year-on-year, becoming the country&#39;s leading driver for economic growth, a report said.
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The World Bank raises its China growth forecast by almost 1%, despite fears of a global slowdown.
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Chinaâs retail sales increased at the quickest rate in at least eight years on rising incomes.
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Chinaâs government reported industrial production growth unexpectedly accelerated in May, hours after Prime Minister Wen Jiabao, left, said further steps were needed to cool the countryâs economy. Output rose 18.1 percent in May from a year earlier, the National Bureau of Statistics said, after gaining 17.4 percent in April. Mr. Wen said Wednesday that monetary policy needed âmoderate tightening,â underscoring the failure of two interest rate increases this year to slow the economy. Record trade surpluses have pumped money into the financial system, stoking investment, inflation and a stock market boom. For the first five months, industrial production climbed 18.1 percent from the period last year, up from 16.6 percent growth for all of 2006.
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Asian stocks rose after comments by Vice Premier Huang Ju increased optimism that China won&#39;t adopt new measures to slow economic growth.
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BEIJING -- The central bank says China's economy should grow by 10.5 percent this year, state media reported yesterday, even stronger than the 10 percent predicted last week by the National Bureau of Statistics.
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China&#39;s economy will expand 8.8 per cent in 2004 and eight per cent in 2005, but growth next year may slow to 7.2 per cent if oil prices stay at around $40 a barrel, the Asian Development Bank said on Wednesday.
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China's economy continues to expand at a rapid pace, growing 9.5% in 2004 despite government efforts to take it off the boil.
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Spain's economy expanded by 3.8 percent last year, after growing 3.9 percent in 2006, according to an estimate by the country's central bank published Wednesday in its monthly bulletin.
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China's economy grew 11.4 percent in 2007, its fastest expansion in 14 years, driven by a boom in exports and investment, but growth slowed slightly toward the end of the year, according to government data reported Thursday.
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A key index of German business confidence surged to eight-month high in December, the Munich-based Ifo economic research institute reported Friday.