SHANGHAI, Dec. 26 (UPI) -- China's economy is expected to have a robust 8.5 percent to 10.5 percent growth next year relatively free of inflation, a state think tank said.
The growth will be driven by anticipated rises in domestic consumption, which will offset slowing fixed-asset investment and foreign trade, the State Information Center said Tuesday.
"If the economy maintains a steady-but-fast growth, (gross domestic product) growth should be at about 9.5 percent," the report published in the Shanghai Securities News said.
Separately, an assistant central bank governor said he expected China's consumer inflation to remain steady at about 3 percent in 2007, as a good grain harvest this year meant pressure on food prices would be limited.
The reports coincide with a private U.S. report forecasting China would "weigh in as the world's economic heavyweight" in 2007.
The Trends Journal said China would also be invigorated with a sense of entrepreneurship that is supported by its government. It said such a spirit was on the decline in the United States.
