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Strategies & Market Trends : Commodities - The Coming Bull Market

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To: craig crawford who wrote (360)	6/27/2001 1:26:08 PM
From: craig crawford	Read Replies (2) of 1643

China's GDP to grow by 8% theage.com.au By LUO JUN BEIJING Wednesday 27 June 2001 China's economic growth rate is expected to be as high as 8 per cent in the first six months of this year, fuelled by increasing public works spending and by domestic demand, the National Bureau of Statistics said yesterday. The official forecast, in line with recent comments attributed to bureau deputy director Qiu Xiaohua, represents a slight cooling after growth accelerated to 8.1per cent in the first quarter. The bureau did not give other details. Growth is expected to slow in the second half. Central bank governor Dai Xianglong recently predicted that the rate for all of this year would be 7.5 per cent. The economy grew at 8 per cent in 2000. Separately, China unveiled industrial targets for the next five years calling for chemical producers to increase output at a rate of 7 per cent a year, to 460 billion yuan ($A107 billion) by 2005, China Securities newspaper said, citing the State Economic and Trade Commission. The plans also call for domestic steel makers to fill 95 per cent of local demand by the end of 2005, and for oil production to reach 170 million tonnes. China was expected to produce 3.2 million vehicles by 2005, it said. - BLOOMBERG

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