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People's Daily Online>>China Business

Services rise at slowest pace (2)

(Shanghai Daily)

13:31, December 06, 2011

"With price pressure easing further, China can and should use policies targeted toward small businesses and service sectors to keep economic growth above 8 percent for the coming year," he added.

The HSBC survey showed that employment levels in the Chinese service sector increased at the fastest pace since June last month, in response to potential need of company expansion plans. The average input costs rose at the slowest pace in 13 months, according to the survey.

Yesterday, Barclays Capital cut its growth forecast of China's gross domestic product next year to 8.1 percent from a previous estimate of 8.4 percent, citing the rapidly deteriorating eurozone growth outlook and a broader domestic property market correction.

It joined other banks, including Citigroup and UBS AG, which cut their 2012 China projections ranging from 8 percent to 8.4 percent.

China's economic growth moderated to 9.1 percent on an annual basis in the third quarter.

【1】 【2】

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