China's economy to grow 9.2 percent

China’s economy to grow 9.2 percent

The People's Bank of China expects the nation's economy to expand 9.2 percent this year, up from an initial estimate of 9 percent. On the other hand, China's GDP (gross domestic product) growth is expected to slow slightly to 8.7 percent in the first half of 2006. Economists point out that the strong demand for exports and a rebound in spending on construction are the key reasons for the upward GDP revision. Meanwhile, the central bank expects consumer prices to expand 2 percent this year and 2.1 percent in the first half of 2006.