Chinese economy

Published April 6, 2007

BEIJING, April 5: China will see “very strong” growth in 2007, but the government does not need to be too concerned about bottlenecks and other signs of overheating, the World Bank said on Thursday.

While domestically the world's fourth-largest economy seems to have few problems accommodating fast expansion, there are, however, vast external imbalances, the World Bank warned.

“We continue to think that growth in China will remain very strong this year, and we think that it's OK,” said Louis Kuijs, senior economist with the World Bank in Beijing.

“We don't think the government needs to be overly worried about that,” he told a briefing in the Chinese capital, as the World Bank released its six-monthly report on East Asia's economic and social health.

China's central bank said last week it expects the economy to expand by 10 per cent this year.—AFP