China’s Growth Will Slow More Than Expected This Year, GE Executive Says

Thursday, February 16, 2012 08:27
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China’s Growth Will Slow More Than Expected This Year, GE Executive Says

Tags: China | world economy

General Electric Co. believes China's economy will slow this year slightly more than the company originally forecast.

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Chinese economic growth may drop below 8%, according to GE Vice Chairman John Rice, who oversees the multinational firm’s international operations.


“The growth rate in China is going to be a little bit lower than we thought a year ago. But still a very manageable, healthy if you will, 8%," he told Reuters. "If it does drop below 8% for a while, that's not the end of the world either."


China’s economy cooled to a 9.5% growth rate last year after three decades averaging 10% annual growth in GDP.


GE still expects to garner double-digit revenue growth in China, Rice said. GE generates about 60% of its revenue overseas.

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