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(From AFX Europe (Focus))
BEIJING (XFN-ASIA) - China is expected to see another year of high growth, with GDP expansion seen at around eight pct, Premier Wen Jiabao told the country's parliament.
That compares with GDP growth of 10.7 pct last year, when Wen's forecast was also eight pct.
He noted that the figure is only a "guide and indicator" used to set budget, employment and price targets.
Wen added that only marginal falls in fixed-asset investment are expected in 2007, while the trade surplus is likely to at least match last year's 177.47 bln usd.
"The overall scale of investment in fixed assets is still too large, the problem of excess liquidity in the banking system is serious, and the factors causing overheated investment and excess credit remain," Wen said.
"The trade surplus has become large, and the imbalance in international payments has worsened," he said, noting that the imbalance should improve this year.
The Ministry of Finance added in a statement that exports would continue to grow at a strong pace this year, while …