Chinese economy's growth pace fluctuating within normal range
The growth momentum of the world's second largest economy is still strong with slight risks of a sharp decline in its growth rate, the NBS deputy chief Xie Hongguang said in his latest article.
"Despite a moderate economic slowdown during the first two quarters, the economy still operates in territory of relatively stable and fast development, with the growth momentum steering from policy stimulating to self-initiated growth," said the article posted on the NBS website.
The country's gross domestic product rose by 9.5 percent year-on-year in the second quarter of 2011, tapering off slightly from the 9.7-percent growth posted in the first quarter and 9.8 percent in the fourth quarter of last year, the NBS data show.
The 9.6-percent economic growth rate in the first six months, though 1.5 percentage points lower than that of last year, is in line with the government's macro-regulation and not low compared with other countries, Xie said.
Xie attributed the growth deceleration to the government regulation and the removal of policy incentives.
Xie expected the country's investment to continue growing at a fast pace fueled by investment increases at local levels. Consumption will be further boosted by the growing incomes of urban and rural residents and the enhanced social security network.
The scale of the country's trade surplus will maintain a sizeable scale despite contractions over recent months, Xie said.
Meanwhile, Xie said that the government should keep its policies consistent and stable while making them more focused, flexible and foresighted, as the country still faces complex economic situations both at home and abroad.
The country's trade surplus fell 18 percent from a year ago to 44.9 billion U.S. dollars in the first half, data from the General Administration of Customs indicated.
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