AFP- Growth in China’s economy is expected to expand at a rapid rate in 2007, with inflation ticking higher to 3.2 percent, state media reported Friday, citing the central bank.
The nation’s gross domestic product (GDP) should expand 10.8 percent this year, slightly higher than the 10.7 percent in 2006, the fourth consecutive year of double-digit growth, according to the bank’s research report published in the China Securities Journal.
It said that after the blistering 11.1 percent growth recorded in the first quarter, the second quarter pace of growth should slip to 10.9 percent followed by 10.7 percent and 10.6 percent in the third and fourth quarters respectively.
“The trend in the high growth of gross domestic product should suggest an adjustment, but the extent of a pull-back is unlikely to be large,” the bank said.
