China Central Bank: Economy To Grow By 10 Percent
Josephine Roque - All Headline News Staff Writer Beijing, China (AHN) - Experts say increasing exports will push economic growth by 10 percent. Despite efforts to cool off a roaring expansion, it will surpass the 2005 rate. China's central bank predicts the economy will increase by 10.3 percent in the first six months of the year. It will then ease off in the second half. China's economy has repeatedly surpassed official targets, growing by 9.9 percent in 2005 and by 10.3 percent in the first quarter of this year. Figures are set to increase to between $120 billion and $130 billion this year, up from US$102 billion in 2005. "China is still a developing country," the Shanghai Daily newspaper quoted central bank governor Zhou Xiaochuan. "We need growth. We need it to solve a lot of economic problems. We need it to have a poverty reduction."
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