Analysts confident over China's economy in 2008

(chinadaily.com.cn)
Updated: 2008-10-22 11:43

The global economy has been slowing down as a result of the subprime crisis in the US. China has been affected as well to some extent, especially in the latter part of 2008. But many economists believe the country will still be able to maintain its steady and fast rate of growth.

Many say that as a part of the global economy, China is not immune to the current financial crisis. But some economists are confident that the country's economy has the ability to continue growing at a steady pace.

A press conference on Monday by the National Bureau of Statistics, or NBS has given a reason for their confidence.

The NBS released China's economic performance for the first three quarters of this year.

China's GDP growth has slowed. And even though the consumer price index, or CPI, rose 7 percent in the first nine months -- that's down nearly 1 percentage point from the first half of 2008.

Analysts say slow CPI growth is a sign of relief from inflationary pressure on the economy.