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BIZCHINA> Top Biz News
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CBRC clarifies misreport on its chairman's GDP growth forecast
(Xinhua)
Updated: 2009-06-15 15:20 The China Banking Regulatory Commission (CBRC) said that its chairman Liu Mingkang has forecasted China's economic growth to be at around eight percent in 2009, not the 6.54 percent as wrongly reported by some news media over the weekend. The information office of the CBRC said Sunday night that Liu made the forecast at the annual meeting of the Institute of International Finance (IIF) in Beijing on June 12. According to Liu's speech at the meeting, which has been posted on the CBRC's website, China's domestic demand has been recovering steadily and credit growth remaining high, indicating that the series of economic stimulus plans have paid off.
He said that China's economy still faces severe challenges, including a sluggish domestic and overseas demand, falling prices, rising unemployment, and unstable international economic and financial situation. (For more biz stories, please visit Industries)
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