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China to head towards mild growth (2)


08:19, November 15, 2011

China will post an annual growth of above 9 percent this year and should be able to maintain growth of around 8.5 percent next year, Liu said.

Stabilizing economic growth should remain a major target for the government in the coming years, he said.

He warned some risks that were previously accommodated by high growth but could be unleashed when growth cooled.

These risks included local government debts, property price fluctuation, and massive losses that might appear in industries that had excess production capacity.

China's GDP expanded 10.4 percent year-on-year in 2010.

Its GDP growth slowed to 9.1 percent in the third quarter of this year from 9.5 percent in the second quarter and 9.7 percent in the first quarter.

【1】 【2】

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