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SHANGHAI - CHINA'S economic expansion is expected to slow to 10.8 per cent this year from 11.4 per cent in 2007 partially due to weaker export growth, state media reported on Friday, citing a state think tank.
Domestic consumption, one of the main drivers of the economy, will continue to see robust growth in 2008, the official China Securities Journal reported, citing a report from the Chinese Academy of Social Sciences.
The report forecast a trade surplus of US$332 billion (S$472 billion) this year, from a record US$262.2 billion in 2007, with exports up 19 per cent, compared with a growth rate of 25.7 per cent last year.
China announced on Thursday an economic expansion of 11.4 per cent in 2007, the fastest in 13 years, although analysts said a weaker global economy, especially a possible recession in the US, would hit demand for exports from China. -- AFP
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