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People's Daily Online>>China Business

China's GDP to grow 9 percent in 2012

By Wang Liufang (Beijing News)

17:14, December 08, 2011

Edited and translated by Han Shasha, People's Daily Online

According to a report released by the Chinese Academy of Social Sciences, China's economic growth rate will reach 9.2 percent this year and it will likely slow to 8.9 percent next year.

China's economic growth has been slowing this year with the gross domestic product growing 9.1 percent on-year in the July-September period, down from the 9.5 percent expansion recorded in the second quarter.

Li Xuesong, deputy director of the Institute of Quantitative and Technical Economics under the Academy of Social Sciences, said that the growth rate of China's industries may decline. The four driving forces — investment, consumption, imports and exports — will hardly support the high growth rate of China’s economy.

The report estimated that China will see its consumer prices grow 4.6 percent in 2012, compared to 5.5 percent for all of 2011.

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