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Print[Ferro-Alloys.com] The slowdown in
China's economy is expected to grow by 7.7 percent in the first three quarters of 2012, while for the whole year, the growth rate will be 7.8 percent, the Center for China in the World Economy (CCWE) under the Tsinghua University forecasted in the report.
The Chinese economy slowed to 7.6 percent in the second quarter, marking the slowest pace of growth in more than three years. The CCWE said the slowdown of growth in the first three quarters is a result of decelerating fixed asset investment, especially in real estate, which will be reversed after the government stepped up approvals for infrastructure projects to boost growth.
The National Development and Reform Commission (NDRC) approved dozens of infrastructure projects worth more than RMB1 trillion (USD157.73 billion) earlier this month, for highways, ports, railways, sewage networks and waste treatment plants across the country.
China still has potential for rapid growth in the medium and long term, and urbanization will be the greatest boost for the country's future development, according to the report. The CCWE estimated that China's GDP will grow by 8.2 percent year-on-year in the first half of next year, while the whole of 2013 will be 8 percent.
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