Growth in economy set to slow
(Shanghai Daily)Updated: 2006-12-24 10:02
Exports may slow starting from June while imports may accelerate, powered by surging domestic consumer spending and the appreciation of yuan, the report said.
The country's gross domestic product climbed 10.4 percent year on year in the third quarter, after jumping 11.3 percent in the previous three months, the National Bureau of Statistics said in October.
The central government has raised interest rates, increased reserved requirement and tightened land control to make it harder to get approval for projects.
Investment in factories, roads and real estate jumped 26.6 percent year on year to 7.93 trillion yuan (US$1.01 trillion) in the first 11 months.
Spending on real estate, which makes up nearly one fourth of total investment, gained 24 percent to 1.64 trillion yuan through November after rising 24.1 percent in the first 10 months.
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