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China may meet 4% inflation target

By Ding Yining (Shanghai Daily)

08:28, March 23, 2012

CHINA may meet its inflation target of 4 percent this year and its economy may grow about 8.5 percent as long as there is no major global financial crisis and the domestic property market remain stable, a senior researcher of a state think-tank said yesterday.

However, there is a risk of the gross domestic product shrinking due to a slowdown in the US and Europe and the impact of a shift to domestic consumption in the second quarter, Yu Bin, director of the macro-economic research department of the Development Research Center of the State Council, said at a news conference in Beijing yesterday.

"China's economy may grow 8.5 percent in the first quarter and at around the same pace for the full year," Yu said.

There is some room to adjust slightly monetary policy as inflation pressure eases and the economy is growing at a stable pace, he added.


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