China's rapid GDP growth rate will likely continue for at least another year, according to Wang Xiaoguang, an economist with the National Development and Reform Commission., state media reported. Wang said in a report released on Tuesday that the country's GDP could expand by 11.5% this year. The economy grew at an annual rate of 11.9% during the second quarter of this year, the fastest in 12 years. A major concern about the Chinese economy continues to be inflation, which reached an 11-year high in August. Analysts expect the 2007 figure to be around 4.3%, exceeding Beijing's goal of 3%. Though the spike in August was mainly centered on supply in the consumer goods sector, analysts argue that future price-control efforts should be focused on the rapidly growing real estate sector. The central government is expected to raise interest rates again before the end of the year to prevent the economy from overheating.
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