People’s Bank of China Governor Zhou Xiaochuan predicts that Chinese gross domestic product will grow at an annual rate of 7 percent in the second half of this year, the central bank has announced.
The People’s Bank of China posted online a written statement quoting Mr Zhou as telling the annual meetings in Washington of the International Monetary Fund and the World Bank that rapid growth in consumption in China is the main driver of the economy, and that steady economic growth has ensured the stability of employment.
He said the Chinese government would maintain its proactive fiscal policy and prudent monetary policy to counter shadow banking, the real estate bubble and other dangers, according to the central bank.
The Chinese economy expanded at an annual rate of 6.9 percent in the first half of this year.
