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BIZCHINA> Top Biz News
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Govt think-tank sees 9% 2009 GDP growth
(Agencies)
Updated: 2008-12-02 16:19 Chinese gross domestic product (GDP) is likely to grow 9 percent next year thanks to Beijing's huge stimulus package and an easier monetary policy, the Chinese Academy of Social Sciences (CASS), the government's top think-tank, said on Tuesday.
But Wang attached two conditions to the scenario: that the US economy touches bottom soon and that China's pro-growth economic policies have a clear impact. The central bank slashed borrowing costs by 1.08 percentage points last week, the deepest cut in 11 years, to complement a 4 trillion yuan ($586 billion) stimulus plan unveiled on November 9. The CASS's forecasts for 2009 include: -- consumer prices to rise 4 percent on average; -- fixed-asset investment to rise 20 percent; -- the trade surplus to come out at $236.9 billion; -- retail sales to rise 16 percent; -- broad M2 money supply to grow 16-17 percent; -- the urban jobless rate to reach 4.3 percent. (For more biz stories, please visit Industries)
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