外文标题：China's growth may hit 7.6%
BEIJING: China's economic growth is likely to stand at 7.6% this year, slightly down from 7.7% in 2012, authorities said.
Economic growth has been higher than expected since 2011 despite a declining trend, said a mid-term evaluation report on Wednesday on the implementation of the 12th five-year development plan (2011-15), reported Xinhua.
The report was submitted by the State Council, China's cabinet, to the bi-monthly session of the Standing Committee of the National People's Congress (NPC).
The five-year plan set an annual growth target of gross domestic product (GDP) at 7% between 2011 and 2015. GDP growth was 9.3% in 2011, 7.7% in 2012 and 7.6% in the first half of this year, according to the report.
"We can not deny a downward pressure on economic growth," said Xu Shaoshi, minister in charge of the National Development and Reform Commission (NDRC), when briefing lawmakers about the report.
There are uncertainties in global economic recovery and the international market has failed to produce strong demand, Xu said.
At home, labour cost increases and environmental costs to enterprises are catching up, which challenges the traditional growth pattern, he said.
The economy is also challenged by increasing risks in local government debt, the financial sector and overcapacity, which resulted from blind government investment in industrial projects, he said.
Aam Admi (Hindustan)
India's growth is better than China - Diggy
To keep growth rate at high level,china has to contribute more to undeveloped countries.Solving others problems,china may get solution for their own problems.
Anup Kumar (Unknown)
He gain all profit from Indian market
Abhinav Chauhan ()
The truth never comes out in China,can this figure be really trusted.
badegg (US) replies to Abhinav Chauhan
But you can choose to not trust the data. But no one really cares. Just like a ostrich that buries its head in sands and ignore the facts
Indication of slow recovery than expected and the international market has failed to produce strong demand .in the major EM country !!