By Dow Jones Business News, October 18, 2013, 01:35:00 AM EDT
BEIJING--China's economy will face pressure in maintaining the third quarter's rapid growth pace in the final quarter
of the year, but expansion will still be relatively fast, the National Bureau of Statistics said Friday.
"It's highly likely that China's economy will maintain a stable and relatively fast pace of growth in the next
quarter," said the bureau's spokesman, Sheng Laiyun, adding that economic fundamentals are strong.
Still, gross domestic product growth may fall short of the 7.8% pace seen in the third quarter, he said. Among the
reasons are still-fluid global economic conditions and the difficulty of shifting China's growth model from one driven
by high levels of investment to one that serves consumers, as well as a high base of comparison from the fourth quarter
of last year.
Mr. Sheng, speaking at a news conference after the release of third-quarter economic data, also said that consumer
inflation will face upward pressure due to rising food prices in the winter. He said, however, that inflation could be
kept within the 3.5% ceiling.
Earlier, the statistics bureau said third-quarter GDP growth picked up 0.3 percentage point after slipping to 7.5% in
The spokesman said further industrialization and urbanization will help drive investment and consumption.
He also said that policymakers need to pay close attention to property price increases, which have been more evident
in the bigger cities.
"We need to look into the problem and improve our property [price] control policies," he said.
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