Saturday, August 05, 2006

Economy: China's economy expanding about 10%

China's commerce ministry has said the country's economy is expanding by about 10 pct this year, with fixed-asset investment growing by more than double that rate at 25 pct.

In a statement posted on its website the ministry says that the forecasts are based on a survey of manufacturers and industry associations focused on supply and demand for production materials. The forecast represents a moderation in growth for the second half of 2006.

China saw its gross domestic product and fixed-asset investment jump by 10.9 pct and 29.8 pct respectively in the first half of this year.