WB raises China growth forecast to 10.4%

时间：2007-05-31 07:50:02

（单词翻译:单击）

May 31 - The World Bank (WB) raised its forecast for China's GDP growth this year from 9.6 to 10.4 percent, warning the widening trade surplus which requires measures to address excessive liquidity1 remains2 a key economic issue.

 

WB analysts3 said the adjustment was made as China's policy stance seemed to be "less tight than expected" with its export prospects4 improved.

 

China's economic growth continued to be powered by the traditional engines of external trade and investment, said the quarterly report on China's economy released by WB on Wednesday.

 

China's GDP grew by 11.1 percent in the first quarter, 0.7 percentage points higher than the same period last year.

 

But the report said the economy did not appear overheated from the macroeconomic perspective, with overall demand and supply growing in line with each other and non-food consumer price inflation still around one percent.

 

"Macro policies to tighten5 overall demand are therefore not obvious," said Louis Kuijs, senior economist6 with the WB and the main author of the report.

 

However, the government was under tremendous pressure from the widening trade surplus which was driven by overseas, rather than domestic, demand to address the excessive liquidity brought about by the surplus, said Kuijs.

 

The major challenge was rebalancing the economy to shift industrial production to services, become more reliant on domestic demand, and achieve environmentally sustainable growth.

 

The report warned a negative correction in China's stock markets may damage confidence in the Chinese capital market.

 

Goldman Sachs, the U.S.-based investment bank, earlier raised its forecast for China's 2007 gross domestic product from 9.8 percent to 10.8 percent after the country saw robust7 economic growth in the first three months.

 
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1 liquidity VRXzb     
n.流动性，偿债能力，流动资产
参考例句：
  • The bank has progressively increased its liquidity.银行逐渐地增加其流动资产。
  • The demand for and the supply of credit is closely linked to changes in liquidity.信用的供求和流动资金的变化有密切关系。
2 remains 1kMzTy     
n.剩余物，残留物；遗体，遗迹
参考例句：
  • He ate the remains of food hungrily.他狼吞虎咽地吃剩余的食物。
  • The remains of the meal were fed to the dog.残羹剩饭喂狗了。
3 analysts 167ff30c5034ca70abe2d60a6e760448     
分析家，化验员( analyst的名词复数 )
参考例句：
  • City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
  • I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。
4 prospects fkVzpY     
n.希望，前途(恒为复数)
参考例句：
  • There is a mood of pessimism in the company about future job prospects. 公司中有一种对工作前景悲观的情绪。
  • They are less sanguine about the company's long-term prospects. 他们对公司的远景不那么乐观。
5 tighten 9oYwI     
v.(使)变紧；(使)绷紧
参考例句：
  • Turn the screw to the right to tighten it.向右转动螺钉把它拧紧。
  • Some countries tighten monetary policy to avoid inflation.一些国家实行紧缩银根的货币政策，以避免通货膨胀。
6 economist AuhzVs     
n.经济学家，经济专家，节俭的人
参考例句：
  • He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
  • He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。
7 robust FXvx7     
adj.强壮的，强健的，粗野的，需要体力的，浓的
参考例句：
  • She is too tall and robust.她个子太高，身体太壮。
  • China wants to keep growth robust to reduce poverty and avoid job losses,AP commented.美联社评论道，中国希望保持经济强势增长，以减少贫困和失业状况。

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