SIC: China's Q3 economic growth to slow to 9.2%

China’s economic growth will continue to slow in the third quarter, expanding by 9.2% compared to a year earlier, while the government scales back stimulus measures, state media reported, citing a government think tank. The State Information Center said in its quarterly publication that the rate was more sustainable and would help accelerate economic restructuring and prevent overheating. China expanded at 10.3% year-on-year in the second quarter, a slower pace than its 11.9% growth in the first quarter. China’s 2010 annual economic growth target is set at 8%. The report said that consumer spending would remain strong in the third quarter because of wage increases and subsidies on home appliance purchases. But government restrictions on real estate may hold back spending to a certain extent, the think tank said.