| Chinese think tank forecasts economy to grow 9.5 percent in 2007 |
BEIJING, Nov. 13 (AP) -- China's economy is likely to maintain its rapid pace of growth next year, with gross domestic product expanding at 9.5 percent as authorities continue to tighten monetary policy and slowly push up the value of the yuan, a government think tank said Monday.
China's rapid economic growth, which set a 10.7 percent pace over the January-September period, has forced Beijing to take measures to ward off overheating in the economy from too much liquidity and high investment.
Beijing should continue to use a variety of tools to drain excess liquidity next year, the State Information Center said in a report published Monday in the China Securities Journal.
The information center said it also expects the gap between the growth of China's exports and imports to shrink next year. Exports are likely to grow by 15 percent and imports by 14 percent, it said. In the first 10 months of this year, exports grew 26.8 percent while imports rose by 20.9 percent.
The think tank said China will continue to let the value of the yuan increase, but it didn't give a specific target or estimate.
It said China should take steps to diversify its foreign exchange reserves by "appropriately
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