China's economic growth will slow down this year and next, but it is expected to reach 9.7% and 9.3% respectively, according to World Economic Outlook, released by International Monetary Fund (IMF) Wednesday.
The report says China's economic growth in the first half will lower than the same period of last year due to such factors as the slowing export growth, but the economy will remain vibrant boosted by the increase in the investment and steady consumption.
The report says compared to 10% of increase last year, growth in Asia's emerging economies this year and next will slow down to 8.4% and 7.7% respectively due to declining demand in advanced economies as well as the regional financial market turmoil. India's economic growth this year and next is expected to reach 7.9% and 6.9% respectively, also lower than last year's 9.3% .
The urgent task of policy-makers in Asia's emerging economies at present is to cope with the global financial turmoil and the slowing economic growth, as well as the risk of inflation, according to the report. It also stresses that compared with the increasingly serious risks of economic slow-down, the inflation risk has reduced as result of the fall-down of oil prices and grain prices, so policy-makers should formulate policies accordingly.
By People's Daily Online
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