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China GDP growth for '09 predicted at 7%

(Xinhua)
Updated: 2009-01-14 15:31

BEIJING -- China's gross domestic product (GDP) growth might slow to 7 percent this year from 9 percent in 2008 on weakening external demand and decreasing domestic investment, a Deutsche Bank economist said.

Related readings:  China 2007 GDP growth revised up to 13%

The economy will face tough times in the next 18 months and hit bottom in the first half of 2010, Ma Jun, chief economist for Greater China, told an economic forum here Tuesday.

Ma forecast a further decline in external demand and deceleration in investment in the real estate, manufacturing and mining sectors in 2009.

China will experience its sharpest deflation in 10 years in 2009, Ma said.