China's Hu Says Growth Faces Pressure To Slow

staff
September 09, 2012 09:58 PM

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China's Hu Says Growth Faces Pressure To Slow

China's president says its economy faces pressure for growth to slow further after factory output in August fell to a three-year low.

President Hu Jintao said the world's second-largest economy faces challenges from weak exports and unbalanced growth. He made the comments Sunday to corporate CEOs at the Asia-Pacific Economic Cooperation meeting in Vladivostok, Russia.

"Pressure for economic growth to slow is obvious," Hu said, according to a text released by the Chinese government.

The president gave no details of possible new stimulus measures but promised to continue reforms aimed at opening China's government-dominated economy to the world.

Data Sunday showed China's factory activity slowed to a three-year low in August. Some analysts have trimmed their growth forecast for China this year following weaker-than-expected economic activity.