China Q3 GDP seen at 9.3 %, CPI to ease in rest of yr

Tuesday, 18 October 2011 00:00 - - {{hitsCtrl.values.hits}}

BEIJING (Reuters): China's economy may have grown by 9.3 percent in the third quarter from a year earlier and consumer inflation will gradually fall to 4.6 percent in December, according to a Tsinghua University report whose results were published on Monday.

The official China Securities Journal cited the report led by Li Daokui, an academic adviser to the central bank, as saying that China's gross domestic economy would likely grow 9.2 percent this year and 8.5 percent in 2012.

China's inflation dipped to 6.1 percent in the year to September, down from August's 6.2 percent and a three-year high of 6.5 percent in July.

Economists projected annual economic growth of 9.2 percent in the June-September period. The National Bureau of Statistics is scheduled to announce GDP and other activities data on Tuesday.

The report also said inflation would hit 5.5 percent, well above Beijing's full-year target of 4 percent. Inflation would likely ease to 2.7 percent in 2012, it said.

“Monetary policy will remain prudent and growth in

fixed-asset investment will remain strong in the future,” Li was paraphrased by the newspaper as saying.

Beijing would also speed up investment in water systems and affordable housing construction to counter any sharp slowdown in the economy, Li added.