An advisor to the People’s Bank of China (PBoC), Xia Bin, has said that the country’s GDP may slow by around 2-3% in the first half from the rate posted in the first quarter, Bloomberg reported, citing the China Securities Journal. The advisor recommended China continue to pursue its target of US$1.1 trillion in new lending for fiscal year 2010. The remarks come amid growing speculation that China’s domestic economy is cooling.
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