China's economy is likely to grow 9.2 percent in 2006, riding on export growth of over 20 percent and investment growth of 20 percent, the China Securities Journal on Tuesday quoted a senior government economist as saying.
In recent weeks Chinese officials and think-tanks have issued a slew of forecasts for next year, painting a picture of solid economic growth - albeit a touch slower - with low inflation.
"I believe demand will be relatively stable to underpin economic growth and I expect the gross domestic product growth rate will be around 9.2 percent next year," the newspaper quoted Zhang Liqun at the cabinet's Development Research Centre as saying.
"Consumption will continue to grow at a solid pace next year, probably around 12 percent, while investment is likely to rise at a robust rate of around 20 percent," Zhang was quoted as saying.
Ma Kai, head of the National Development and Reform Commission, has projected that the economy will grow 9.4 percent in 2005 while fixed-asset investment will grow 25 precent, with retail sales - a key gauge of consumption - up 13 percent.
Zhang forecast China's exports would grow more than 20 percent next year, but the trade surplus would narrow from this year's level, which is on track to hit $100 billion, more than triple last year's $32 billion.
Zhang did not say to what extent the surplus would fall. The surplus in the first 10 months of 2005 came to $80.4 billion.
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