Economics & Trade

ADB: 2008 growth to dip below 10%

July 23, 2008

The Asian Development Bank (ADB) revised downward its projection for China's economic growth this year to 9.9% from 10%, due to a global economic slowdown, sharp rises in food and energy prices, and volitile financial markets, state media reported. The ADB report said the 9.9% growth rate, along with a forecast of 9.7% growth in 2009, was still "fairly good." Worse-than-expected US economic news, including recent revelations about government-sponsored mortgage firms Fannie Mae and Freddie Mac, also had an impact on the ADB's revision of its April projection.
Related Articles:

(2010-03-18)

IMF Chief: Renminbi significantly undervalued

(2010-03-18)

World Bank raises China growth forecast to 9.5%

(2010-03-17)

Geithner: China will adopt flexible forex policy

(2010-03-17)

Taiwan formalizes mainland financial investment rules

(2010-03-17)

Some interesting passages from the World Bank report

(2010-03-12)

Obama: Chinese exchange-rate reform would bring global benefits

(2010-03-12)

China's bank lending, fixed-asset investment both slow

(2010-03-12)

Interesting times for the Renminbi

(2010-03-11)

CBRC chairman promises closer monitoring of new loans

(2010-03-11)

China's exports rose 45.7% in February