China economy expected to grow 12% in Q1

China’s annual economic growth will reach 12 percent this quarter, a government researcher said in remarks published on Monday, as economists ratchet up growth forecasts following strong industrial output growth last month.

Yu Bin, head of macroeconomic research at the State Council Development Research Center, said the Chinese economy would face relatively heavy downward pressure on the pace of growth in the second quarter and thereafter, the official Shanghai Securities News said.

It also quoted Fan Jianping, a senior economist with the State Information Center, a think-tank under China’s economic planning agency, as forecasting the same rate of growth in the first quarter followed by a possible drop to 10.8 percent in the second quarter and 9 percent or less in the third and fourth quarters. (…)

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