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Location:Home > Economic and Trade Info > China at a Glance
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| China's 2010 CPI expected to exceed 3%: CAS |
The Centre for Forecasting Science under the Chinese Academy of Sciences (CAS) released the latest estimates on China's key economic indicators February 6 during the release and symposium for China's economic forecast in 2010, which estimates that China's economy will show a moderate upward trend, with GDP growth around 10 percent and the CPI index to have a 3.06 percent year-on-year increase.
According to the Centre, after China's economy achieved an overall recovery and upward trend in 2009, it will show a moderate upward trend in 2010. The GDP growth for the whole of 2010 is expected to reach about 10 percent, with the contribution proportion of investments, consumption and net exports to the GDP growth being 6.3 percent, 4.2 percent and negative 0.5 percent respectively. In terms of each quarter, China's economic growth rate will generally have a declining trend, with GDP rising by about 11 percent in first quarter, 10.2 percent in the second quarter, 9.5 percent in the third quarter and 9.8 percent in the fourth quarter.
The prediction points out that in 2010, elements including economic recovery, good liquidity, inflation expectations and price reform on resource products will boost the rise of prices, but elements including excessive production capacity, sufficient supply of farm products and price control will restrain the sharp rise of prices. It is predicted that China's commodity prices will increase slowly in 2010, and the CPI and PPI will have a year-on-year increase of 3.06 percent and 5.22 percent respectively.
The Centre also predicts that in 2010, China's housing prices will remain stable in general and China's real estate will have a prosperous situation with sufficient supply and brisk demand. The demand for commercial residential buildings will still be strong, and both the total area of houses sold and the total housing sales revenue will grow slightly. However, the supply of commercial residential buildings will increase rapidly and therefore, although the prices of commercial residential buildings may increase, the increase will obviously be less than that of 2009.
In terms of prices of bulk commodities, the Centre predicts that in 2010, WTI crude oil futures will fluctuate between 65 U.S. dollars and 120 U.S. dollars per barrel with the average price at around 85 U.S. dollars. The price of gold futures will fluctuate between 1,050 U.S. dollars and 1,250 U.S. dollar per ounce, with the average price at 1,150 U.S. dollars. |
Source:By People's Daily Online |
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