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China\'s economy to grow by 9.4% this year, official says

China\'s economy to grow by 9.4% this year, official says

China\'s economy will likely grow by 9.4 percent this year, and will see continued fast growth next year, Ma Kai, the State Development and Reform Commission\'s minister, was quoted as saying by state media yesterday.

China\'s economy has been growing at an average rate of 9.5 percent in the past two years. Its gross domestic product grew 9.4 percent in the first nine months of 2005.

Ma said fixed-asset investment for the whole year is expected to increase by 25 percent, while retail sales will increase by 13 percent.

Next year, the government will aim for fast, stable growth for the Chinese economy, but will make more efforts to restrain overproduction to avoid overheating in several sectors, he was cited as saying by Xinhua news agency.


Updated : 2021-08-02 06:48 GMT+08:00