Reval to slow GDP growth: government think tank
2 August 2005
The revaluation of the yuan will cut China's GDP growth less than 0.5 of a percentage point by the end of next year, according to a report by the State Information Center, a top government think tank, Reuters reported. The think tank forecasts the 2.1% revaluation will slow consumer price inflation to 0.4% by the end on next year, compared with 1.6% annual growth last year, and will reduce export growth by 1.5 percentage points while increasing import growth by just 0.2 of a percentage point.