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ADB: China's economy may achieve soft landing

www.chinanews.cn 2005-04-07 13:51:54

Chinanews, Apr. 7 - The Asian Development Bank (ADB) issued a report in
Beijing yesterday, which said that China's economy is expected to achieve
a soft landing during the 2005-2006 period and will continue to grow
rapidly from 2005 to 2007. China's GDP is estimated to increase 8.5% this
year, 8.7% in 2006 and 8.9% in 2007. ADB once predicted that China's GDP
would grow 8.0% this year.
According to the report, in the coming three years, China's industrial
growth rate will reach between 9.3% and 10.1%, the agricultural growth
rate will reach between 4.1% and 4.6% and the service industry will
continue to grow at about 8%.
While answering reporters' questions, Tang Min, chief economist of ADB's
Beijing Representative Office, asserted that the bank predicts China's
consumer price index will grow 3.6% this year, lower than last year's
3.9%.
Zhuang Jian, senior economist at ADB's Beijing Representative Office,
said that although the report expects China's economy to succeed in
pulling off a soft landing, China would still face some serious
challenges. On the one hand, an increase in investments may rebound
greatly, resulting in overheated economy again. On the other hand, if
some potential problems are dealt with improperly, the economy will come
down by a large margin, making it difficult to realize the goal of a soft
landing.

E-mail: zhangqinghua@chinanews.com.cn Tel: 8610-88387443 Fax:
8610-68327649

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