Beijing: China`s economy is likely to grow 6.7 percent in the second quarter, fuelled by rising investment in infrastructure and a recovery in the property market, state news agency Xinhua said on Monday, citing an official think-tank.
Exports will probably fall 8 percent in the second quarter, while imports will fall 10 percent, according to an estimate by the State Information Center, which is affiliated with powerful economic planner the National Development and Reform Commission.
China`s economy grew 6.7 percent in the first quarter. The services sector is likely to grow 7.5 percent in the second quarter, with retail sales expected to rise 10.5 percent, the agency said in its report.
The State Information Center said excessive industrial capacity and slowing private investment continue to pose challenges to economic growth, while growth in production of cars and crude steel indicate some stabilisation.