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Beijing (AFP) Jan 4, 2011 The Chinese economy likely grew by around 10 percent in 2010, the head of China's central bank said in comments published Tuesday, but it was unclear whether it was on a normal trajectory again. "GDP growth in 2010 will be around 10 percent," Zhou Xiaochuan said in a speech mid-December but only now published on the website of the People's Bank of China, echoing previous predictions for the year. "External conditions made an important impact on our (economic) recovery, so we have not fully grasped whether the economy is already back to normal," he added. Zhou's comments come as authorities battle to cool a red-hot economy by reining in property prices and taming inflation. China's top leaders have tried to ease concerns over soaring prices, and Zhou himself vowed last month to keep prices stable in 2011. He also reiterated that policymakers would carry out a "prudent monetary policy" -- signalling further interest rate hikes and other tightening measures could be on the way. The central bank hiked interest rates for the second time in less than three months on Christmas Day amid concerns over inflation, which China's leaders fear could spark unrest. It has also ordered lenders to keep more money in reserve, effectively limiting the amount of funds they can lend.
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China backs Spain to emerge from economic crisisMadrid (AFP) Jan 3, 2011 China is confident Spain will recover from its economic crisis and will continue to buy Spanish government bonds despite market fears of an Irish-style debt bailout, a top Chinese official said Monday. The comments by Vice Premier Li Keqiang were made in an op-ed piece in Spain's leading daily El Pais one day ahead of his arrival in Madrid for a three-day official visit, the start of a Europ ... read more |
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