Bloomberg News

China Is Prepared for Slowdown in Growth Rate, NBS Head Ma Says

January 16, 2012

Jan. 17 (Bloomberg) -- China is prepared for a slowdown in its economic growth rate and a mild moderation is desirable, Ma Jiantang, head of the National Bureau of Statistics said today.

The country is facing changes in the environment and in resources and labor supply and must work harder to transform its development pattern and economic structure, he said at a briefing in Beijing.

For the duration of the 12th five-year plan that runs from 2011 to 2015, the government wants steady and relatively rapid growth and has set a target of 7 percent annual GDP growth, he said. China will focus more on the quality of growth, he said.

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