Growth slows, Wen urges more cooling

China's economic growth slowed last quarter to 10.4% after second quarter growth hit the fastest pace in more than a decade at 11.3%, statistics bureau figures released Thursday showed. It was the first slowdown in a year, but growth for the first nine months of the year still comes in at 10.7%. The news comes the day after Premier Wen Jiabao ordered officials at a State Council conference planning the economic agenda for the fourth quarter to redouble efforts to cool the property market and fixed-asset investment, the South China Morning Post reported, citing a summary of Wen's speech carried Wednesday on government website http://www.gov.cn. Wen said China will maintain its grip over bank lending and the property market over the next three months, placing particular emphasis on medium- and long-term loans and land supply. Wen also said the international trade imbalance was worsening, but did not give any indication China would change its currency policy.