China's GDP Increases 11.2 Percent in Fourth Quarter 2007
Source: globecotnews Date: 2008-01-31
China's GDP posted 11.2 percent year-on-year growth during the fourth quarter of 2007, which was a slight reduction from 11.5 percent gains during the third quarter. China is attempting to "cool" its economy, while at the same time maintain strong growth in face of a U.S. slowdown. The government continues its pursuit of a very tight monetary policy by raising interest rates and curbing loans to targeted businesses -- bank reserve ratios have been raised to 20-year highs. The country's industrial output remained healthy in December at 17.4 percent growth. Economic growth in 2007 was at its fastest pace in 13 years, increasing 11.4 percent, and was estimated to have accounted for 17 percent of all global growth in 2007.
