“China’s GDP to increase 9 percent”
The People's Bank of
China disclosed that
China's GDP (Gross Domestic Product) is expected to be 9 percent this year compared to 9.5 percent growth in 2004.
Furthermore, according to the bank's report,
China's consumer price index is projected to increase 2.7 percent in 2005.
The bank indicates that the slowdown in
China's domestic demand will lead a drop in consumer prices in the future.
On the other hand, the current price situation and the future development trend show that housing prices will likely to increase in the future.
The bank expects that the soaring global oil prices and high prices of metal will have a further impact on
China and create more pressure on the country to increase prices of commodities on the long run.