Shanghai Daily: Business - shanghaidaily.com
CHINA should take measures to cool economic growth and cut energy consumption, an official with the National Development and Reform Commission said. "Current economic growth, 11.5 percent or above 11 percent, is too fast and at too high a cost," Han Yongwen, the planning agency's secretary general, said at a conference in Beijing on Saturday. The world's fourth largest economy grew by more than 11 percent through the first three quarters of 2007, Bloomberg News said. Chinese government is trying to cool growth in the world's fastest-growing major economy without triggering a sudden slowdown that may cost jobs and leave factories idle. Japanese companies including Toyota Motor Corp urged China in September to slow the pace of its expansion on concern overheating in Japan's biggest trading partner may cause economic turmoil. "The central bank should use interest rate policies more boldly to damp investment expansion and asset price increases," Lin Yifu, head of