ID :
192059
Thu, 06/30/2011 - 13:53
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https://oananews.org//node/192059
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China's economy estimated to have grown 9.5 pct in H1
HONG KONG, June 30 (Yonhap) -- China's economy was estimated to have grown 9.5 percent in the first half of this year, a state-run think tank said Thursday, indicating that the country's economic growth continues to slow down.
In the first quarter of 2011, China's economy grew 9.7 percent on-year, slightly down from the 9.8 percent expansion during the same quarter a year earlier. Last year, the Chinese economy expanded 10.3 percent.
The State Information Center of China released its estimate of the nation's gross domestic product (GDP) for the first six months of 2011 and suggested the economic growth was lower in the second quarter, compared to the first quarter.
The think tank also predicted that the world's No. 2 economy will further slow in the second half of this year, without giving specific numbers.
The Chinese government earlier said that it is seeking to contain its economic growth in the 8 percent range this year amid mounting concerns that the overheating Chinese economy is driving the country's high inflationary pressure.
Some market watchers say China's economy is losing some momentum as the country's electricity shortage and unfavorable weather conditions are feared to exert downward pressure on the country's production.
The consumer price index (CPI), the main gauge of the country's inflation, was estimated to have reached 5.3 percent during the January-June period, higher than the 4 percent inflation goal, which was set by the government earlier this year, the State Information Center said.
It said the inflation rate will range between 4.5 and 5.5 percent in the second half, with the inflation for all of 2011 expected to stand at 4.9 percent.
Chinese Premier Wen Jiabao said Sunday during his visit to Europe that while the overall price level could be controlled below 5 percent this year, there are some difficulties in achieving 4 percent inflation.
In May, China's consumer prices rose 5.5 percent from a year earlier to a 34-month high. It was an increase of more than 5 percent for the third straight month.
Market watchers expect that consumer prices rose 6 percent or even higher this month, spurred by the country's soaring pork and vegetable prices.
In the first quarter of 2011, China's economy grew 9.7 percent on-year, slightly down from the 9.8 percent expansion during the same quarter a year earlier. Last year, the Chinese economy expanded 10.3 percent.
The State Information Center of China released its estimate of the nation's gross domestic product (GDP) for the first six months of 2011 and suggested the economic growth was lower in the second quarter, compared to the first quarter.
The think tank also predicted that the world's No. 2 economy will further slow in the second half of this year, without giving specific numbers.
The Chinese government earlier said that it is seeking to contain its economic growth in the 8 percent range this year amid mounting concerns that the overheating Chinese economy is driving the country's high inflationary pressure.
Some market watchers say China's economy is losing some momentum as the country's electricity shortage and unfavorable weather conditions are feared to exert downward pressure on the country's production.
The consumer price index (CPI), the main gauge of the country's inflation, was estimated to have reached 5.3 percent during the January-June period, higher than the 4 percent inflation goal, which was set by the government earlier this year, the State Information Center said.
It said the inflation rate will range between 4.5 and 5.5 percent in the second half, with the inflation for all of 2011 expected to stand at 4.9 percent.
Chinese Premier Wen Jiabao said Sunday during his visit to Europe that while the overall price level could be controlled below 5 percent this year, there are some difficulties in achieving 4 percent inflation.
In May, China's consumer prices rose 5.5 percent from a year earlier to a 34-month high. It was an increase of more than 5 percent for the third straight month.
Market watchers expect that consumer prices rose 6 percent or even higher this month, spurred by the country's soaring pork and vegetable prices.
