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Economy

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10. Chinese Finance Minister Makes Some Sobering Comments Yet About How Much Growth Could Slow

Fri Jul 12, 2013, 08:10 AM

Jul 2013

http://www.businessinsider.com/chinese-finance-minister-makes-some-of-the-most-sobering-comments-yet-about-how-much-growth-could-slow-2013-7

China's finance minister signalled that Beijing may be willing to tolerate economic growth in the second half of the year significantly below 7pc, marking the most sobering comment to date from a senior policymaker on the country's slowdown.

Speaking in Washington, Lou Jiwei said growth in the world's second-largest economy could be 7pc this year, the official Xinhua news agency reported on Friday.

That would mean growth coming in below the government's official target for the first time in living memory.

Mr Lou said economic growth in the first half of the year would be "slightly lower than 7.7pc". China is due to report GDP for the latest April-June quarter on Monday.

Read more: http://www.businessinsider.com/chinese-finance-minister-makes-some-of-the-most-sobering-comments-yet-about-how-much-growth-could-slow-2013-7#ixzz2YpgG8Grt

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