The pace of China’s economic expansion has slowed to its lowest rate since the first six months of 2009, according to one official’s estimate, and another says the country may loosen rules that govern overseas investment for its people.
Bloomberg reported Tuesday that Zhang Xiaoqiang, vice chairman of the National Development and Reform Commission (NDRZ), said the Chinese economy may have expanded by about 8.4%. The official data will not be released for another 10 days.
During a panel discussion at the Boao Forum for Asia, Zhang cited “relevant China research institutes’ initial figures” for his estimate, and also said that consumer prices would likely rise about 3.5%. The forum is a gathering of government and business leaders and is being held on China’s tropical island of Hainan.