China’s GDP likely to grow 9% in 2011: Government Research

15:23, April 26, 2011      

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China’s GDP is likely to grow 9 percent in 2011, and its trade surplus may shrink to 140 billon U.S. dollars, representing 2 percent of its GDP, according to a report released by the Development Research Center of the State Council on Monday.

The report said that domestic inflation has not yet peaked, and there remains considerable inflationary pressure.

The report also noted that China will face an increasingly deteriorating external trade environment due to surging global commodities prices. Its imports may grow 25 percent this year, while its exports may grow only 20 percent. China posted a trade surplus of 183.1 billion U.S. dollars in 2010.

China’s foreign trade growth rate may fall slightly in 2011 from last year, according to the “China’s Foreign Trade Situation Report (Spring 2011)” recently released by the Ministry of Commerce. The ministry predicted that China’s imports may continue to grow faster than exports this year, leading to further improvements in the trade balance.

Due to the rapid economic growth, surging global commodities prices, the Spring Festival holidays, and other factors, China recorded a trade deficit of slightly over 1 billion U.S. dollars in the first quarter of 2011, its first quarterly deficit in nearly six years.

The Chinese Academy of Social Sciences, another major think-tank in China, said earlier this month that the country’s GDP may rise nearly 10 percent in 2011.

By People's Daily Online
 
 
     
 
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(Editor:张茜)

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