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Chinese Economy to Maintain Steady Growth This Year: Economist
China's economy is expected to grow 7 percent to 8 percent this year, continuing the growth momentum, a senior economist said Saturday, January 13.
Speaking at a seminar on forecasting the economy, Qiu Xiaohua, deputy director of the National Bureau of Statistics, the national economy is to maintain relatively stable growth this year.
Analyzing factors behind stable economic growth, Qiu said that the central government is expected to continue its pro-active fiscal policy and stable monetary policy, and exercise macro-economic control over the economy through flexible use of economic levers.
The income of the country's farmers, whose population totals 900 million, and social investment are expected to be increased as prices for some farm produce will be lifted following the drastic decrease in grain output last year, said Qiu.
He said the central government's plan to improve the investment environment, including efforts to lower production costs and increase information transparency, will open up more room for private investment.
Foreign investment has begun to recover, said Qiu.
New economic growth sectors will contribute to stable economic growth, including China's strategy to develop its vast western region, the on-going industrial restructuring, the implementation of the strategy to build more small towns to promote urbanization, and expected growth in car and housing sales, he said.
But the expected slowdown of the world economy will place some pressure on China's exports, he warned.
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