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To: Stoctrash who wrote (26285)	12/8/1997 2:59:00 AM
From: JPM	Respond to of 50808

<font color=#ff0000>China predicted to have 11% GDP growth in 98, up from 9% in 97...</font> scmp.com Story Below.... what do you have to say Rarebird? ---------------------------------------------------------------- Monday December 8 1997 Economist predicts fresh boom next year DANIEL KWAN China is likely to see a fresh economic boom next year, senior economist Wang Jian says. Mr Wang, of the State Planning Commission, told a seminar in Beijing that policies to be adopted by the State Council next year were likely to help spur the economy to new heights. His forecast was the first by a senior economist to indicate the new administration, to be formed in March, will adopt an economic agenda aimed at achieving higher growth. It is widely expected that Vice-Premier Zhu Rongji , the nation's top economic strategist, will replace incumbent premier Li Peng when Mr Li completes his term in March. The Chinese Government has adopted a relatively tight monetary policy for the past few years to cool inflation, and has achieved impressive results. According to official statistics, inflation was down to about three per cent in recent months. Mr Wang said he believed China's economy would grow from nine per cent this year to 11 per cent next year. He said his projections were based on the mainland's "substantial reserves in foreign exchange" and "remarkable improvement" in the past year in sectors such as transport, energy and raw materials. "Once the new policies are in place, the economy can expand very quickly," he said. Mr Wang played down the impact of the recent financial turmoil in Southeast Asia on the mainland, saying China would not be affected because its capital market was not open. He dismissed fears the devaluation of other Asian currencies would hurt China's exports. He said although the yuan had become more expensive in relation to other currencies, the competitiveness of Chinese exports remained strong because exporters could source their products from suppliers in inland provinces where production costs were low. ------------------------------------------------------------------- Sounds pretty good to me, Jp