Economy still growing quickly

Vice-Premier Zeng Peiyan announced that mainland GDP growth was more than 10% in the first half of 2004. Zeng spoke at a forum in Chongqing, saying that despite the rapid growth, government control measures to slow the economy were effective. A State Development and Reform Commission think-tank estimated 2004 GDP growth at 11.3% for the second quarter year on year and 9.8% for the first quarter, averaging 10.5% for the first half. Analysts said that land management must be strengthened and credit controls must be tightened to slow the economy at a safe pace.