China's still too hot with 9.5% growth

An experienced guide to the world of finance
providing tools and information that help make
best financial decisions

		My FinanceGates.com		Register

Home

News |

World News

News & Commentary

News

Reviews

Columnist Articles

RSS News

Economy

Economic Charts

Financial Calendars

Banking & Loans

Loan Rates

Deposit Rates

Rate Alert

Banking Top Rating

Education

Banking

Investing

Stock Brokerage

Dictionary

Financial Directory

Banking

Funds

Insurance

Stock Brokerage

Billing

My FinanceGates

MLS Canada

Market News	Insurance	Billing
Banking	Business News	World News
Funds	Brokerage

Friday May 06, 07:02

China's still too hot with 9.5% growth

(by Julia Jenson)

Send link to friend

Chinese officials are still dissatisfied with the nation’s economic growth that in their view is still too fast, according to Deputy Finance Minister Li Yong.

The Chinese economy added 9.5% in the first quarter on a year-on-year basis, while the authorities targeted an expansion rate of 8.9% to 9%. Measures aimed at bringing down growth included Premier Wen Jiabao’s command to banks to curtail lending in overheated spheres such as real estate, steel and autos after the pressure put on energy supplies and prices for raw materials by skyrocketing fixed-asset investment. Blackouts hit 24 of China’s 27 provinces in the past year due to strain in supplies.

Li noted that fixed-asset investment in real estate and steel industries is still too high.

The international institutions are also upping their projections for China’s economic growth. According to the Institute of International Finance, growth in China in 2005 will be about last year’s 9.5%, which was the record level since 1996. The projection from the World Bank pinpointed growth at 8.3%, raising the bar from November’s 7.8 percent on stronger exports and increased consumer spending.

Li repeated the government’s projection of a deficit that will approximate $36 billion in 2005.

All world news

Read the related news and articles:
27 May 2005 07:08 AM	US Senators call for tough action on China to press for yuan revaluation
20 May 2005 08:25 AM	China’s export tariffs raised on US restrictions
19 May 2005 10:54 AM	US puts more pressure on Chinese textile
19 May 2005 09:31 AM	Hong Kong announces currency ceiling
19 May 2005 08:14 AM	Snow: yuan must grow within few months

SUBSCRIPTION

Join FinanceGates.com mailing list and get news and financial advices on home finance, auto finance, insurances, funds, online payments and much more.

Copyright © FinanceGates.com - independent financial advice and personal finance advice, an InternetGates.com company, 2003-2008. All rights reserved.
Finance Gates provides personal finance advice on banking, insurance, investing and billing.
Reading materials of this site you can be sure that you get independent financial advice.