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China's Hu says growth faces pressure to slow

China's Hu says growth faces pressure to slow

China's president says its economy faces pressure for growth to slow further after factory output in August fell to a three-year low.
President Hu Jintao said the world's second-largest economy faces challenges from weak exports and unbalanced growth. He made the comments Sunday to corporate CEOs at the Asia-Pacific Economic Cooperation meeting in Vladivostok, Russia.
"Pressure for economic growth to slow is obvious," Hu said, according to a text released by the Chinese government.
The president gave no details of possible new stimulus measures but promised to continue reforms aimed at opening China's government-dominated economy to the world.
Data Sunday showed China's factory activity slowed to a three-year low in August. Some analysts have trimmed their growth forecast for China this year following weaker-than-expected economic activity.


Updated : 2021-10-16 13:19 GMT+08:00