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China tries to slow down growth of economy
21 July 2007Since July, 21st the central Bank of China has raised credit and depositary rates on 27 basic items. Thus, the credit rate will make 3,33 % annually, and depositary - 6,84 % annually.
The Chinese authorities hope that these measures will promote stabilization of inflation and restriction of volume of crediting and investments, and will also slow down growth of economy.
It is worth of mentioning that in annual calculation growth of gross national product of China in II quarter 2007, has increased for 0,8 percentage items - up to 11,9 % from 11,1 % in the I quarter 2007. This parameter has appeared above the analysts’ forecasts, according to which annual growth of Chinese gross national product should not exceed the results of the first half-year - 10,8 % and calculations of the government of the Peoples Republic of China, predicted 8% of gross national product growth.
In the beginning of this year Asian Bank of Development predicted decrease of economic growth of China up to 10 %.
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