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China`s economy expected to grow by 8.5 per cent in 2004
Beijing, Oct 27: Aided by an expected double digit industrial growth, China expects its economy to grow by an impressive 8.5 per cent in 2004.
Beijing, Oct 27: Aided by an expected double digit
industrial growth, China expects its economy to grow by an
impressive 8.5 per cent in 2004.
The industrial added value next year will increase by
13 to 15 per cent and the price level will remain stable,
according to Liu Shijin, Director of the Research Department
of Industrial Economy of the Development Research Centre of
the State Council, China's Cabinet.
In 2004, China's automobile and steel industries are likely to maintain rapid growth and the computer and machinery industries will also flourish.
Liu said the fast urbanisation process will stimulate the infrastructure construction while foreign investment in China will grow at a slower rate.
Meanwhile, China's gross domestic product growth for 2003 is predicted at around 8.2 per cent, Economic Information daily reported.
Quoting a report by the Chinese Academy of Social Sciences, one of China's leading think-tanks, it said the country's economy will maintain fast growth this year and next year, with annual GDP growth rate exceeding the average level for the past five years since the outbreak of the Asian financial crisis in 1997.
However, the outbreak of severe acute respiratory syndrome had slowed down the pace of rise in per-capita income for urban and rural areas with the latter taking the brunt.
Foreign trade, which also suffered during the initial months, is expected to regain momentum, the report said.
Bureau Report
In 2004, China's automobile and steel industries are likely to maintain rapid growth and the computer and machinery industries will also flourish.
Liu said the fast urbanisation process will stimulate the infrastructure construction while foreign investment in China will grow at a slower rate.
Meanwhile, China's gross domestic product growth for 2003 is predicted at around 8.2 per cent, Economic Information daily reported.
Quoting a report by the Chinese Academy of Social Sciences, one of China's leading think-tanks, it said the country's economy will maintain fast growth this year and next year, with annual GDP growth rate exceeding the average level for the past five years since the outbreak of the Asian financial crisis in 1997.
However, the outbreak of severe acute respiratory syndrome had slowed down the pace of rise in per-capita income for urban and rural areas with the latter taking the brunt.
Foreign trade, which also suffered during the initial months, is expected to regain momentum, the report said.
Bureau Report