China's economy is expected to grow by 8.3 per cent this year and perhaps another 8.5 per cent in 2004, a top government think-tank said in a report released on 25 September.
The rosy forecast by the State Information Centre came amid growing concerns about economic overheating, caused by excessive investment in property, cars and some infrastructure-linked building materials.
China's economy, the sixth-biggest in the world, grew an annual 8.2 per cent in the first half of 2003 despite the fallout from the SARS epidemic, after expanding an annual eight per cent in 2002.
Fixed asset investment, a growth pillar being watched closely for signs of overheating, was likely to rise about 20 per cent this year, outpacing an expected 8.6 per cent growth in retail sales, a key gauge of consumption, the report said.
Investment alone would contribute to about 60 per cent of China's overall economic growth this year, the think-tank said.
