China's gross domestic product (GDP) will grow about 9 percent next year, but the economy will be challenged by rising labor costs, liquidity problems and difficulty in sustaining rapid growth in the long run, a senior researcher at the country's top think-tank said Saturday.
Liu Shijin, deputy director of the Development Research Center of the State Council, or China's Cabinet, spoke at the OTO Fortune Forum held by the Bank of Communications.
As for the year 2010, Liu predicted an annual 10-percent GDP growth due to the economic slowdown in China during the second half of the year.
He said China's exports and investments would be much better in 2011 than this year, but the growth rate of consumption would pull back slightly from this year's boom, making 9 percent growth "very likely".
To keep its economy on track for sustained growth, however, China still faces three major challenges in the long term, according to Liu's research.
Liu Shijin, deputy director of the Development Research Center of the State Council, or China's Cabinet, spoke at the OTO Fortune Forum held by the Bank of Communications.
As for the year 2010, Liu predicted an annual 10-percent GDP growth due to the economic slowdown in China during the second half of the year.
He said China's exports and investments would be much better in 2011 than this year, but the growth rate of consumption would pull back slightly from this year's boom, making 9 percent growth "very likely".
To keep its economy on track for sustained growth, however, China still faces three major challenges in the long term, according to Liu's research.
