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People's Daily Online>>China Business

China's economy may cool, hard landing ruled out


10:25, November 22, 2011

BEIJING - China's economic expansion may further slow down amid heightening strain in debt-ridden Europe and lingering concerns over the US economy, but the country is not going to have a hard landing -- at least not soon.

Hurt by a slowdown in external demand and a liquidity crunch under monetary tightening, the country's economy has slowed to its weakest pace in two years and is likely to continue on the cooling trend.

A report released by Beijing-based Renmin University of China (RUC) forecast that China's economic growth will ease to 9.4 percent this year before further slipping to 9.2 percent in 2012.

However, even with that figure, the country still outperforms other major economies and stays in shape.

The country's economic fundamentals will remain good in 2012, Wang Yiming, deputy head of the Academy of Macroeconomic Research under the country's top economic planner, the National Development and Reform Commission, said at a forum held by Xinhua News Agency last weekend.

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