分析 經濟減速讓北京陷入兩難
China’s economy expanded at its slowest pace in six years in the first quarter, held back by a slowdown in construction and manufacturing as the government seeks to re-engineer the country’s growth model.
中國經濟在第一季度以6年來最慢的速度擴張，主要受建築業和製造業放緩的拖累。政府正試圖轉變中國經濟增長模式。Chinese growth underpinned the global economy in the wake of the financial crisis, but it has been slowing year by year since 2011, affecting everything from the price of iron ore to global sales of luxury goods.
中國的增長曾在金融危機後支撐了全球經濟，但自2011年以來逐年放緩，影響了從國際鐵礦石價格到全球奢侈品銷售的很多領域。
For emerging markets that rely on Chinese demand for their commodities, the slowdown is adding to the strain as they brace themselves for the effect of a US interest rate rise that is expected later this year.
對那些依賴中國大宗商品需求的新興市場來說，中國經濟增長放緩給它們增加了壓力，因爲它們正準備應對美國利率上升（預計在今年晚些時候）的影響。
China’s gross domestic product grew 7 per cent in the first three months of 2015 compared with the same period a year earlier, the country’s National Bureau of Statistics said on Wednesday — the weakest quarterly expansion since the depths of the global financial crisis in early 2009. China’s economy grew 7.3 per cent in the fourth quarter of 2014.
中國國家統計局(NBS)週三表示，中國的國內生產總值(GDP)在2015年前三個月同比增長7%。這是自2009年初全球金融危機最嚴重時期以來最疲弱的季度擴張。中國經濟在2014年第四季度同比增長7.3%。The Chinese government had previously announced a growth target of “around 7 per cent” for 2015. “We have the ability to keep economic operation within the proper range,” Premier Li Keqiang told the Financial Times in an interview on March 31.
中國政府此前已宣佈2015年增長目標爲“7%左右”。中國總理李克強在3月31日接受英國《金融時報》專訪時表示，“我們有能力保持經濟運行在合理區間。”“This is not going to be easy but we will do our best and we can do it,” Mr Li added in his first interview with a western media organisation since assuming office two years ago.
他補充說，“這不是一件容易的事情，但是我們會努力做，而且相信能做到。”自兩年前上任以來，這是李克強首次接受西方媒體採訪。An economic slowdown in China is widely seen as inevitable but also necessary as the country tries to move from its traditional dependence on smokestack industries towards domestic consumption and services. “We expected the fall in economic growth,” Sheng Laiyun, NBS spokesman, said on Wednesday. “As the economy enters the ‘new normal’, the drop in growth rate is good for structural adjustment and transformation.”
隨着中國試圖擺脫對“煙囪產業”的傳統依賴，轉向國內消費和服務業，中國經濟放緩被廣泛認爲是不可避免的，也是必要的。中國國家統計局發言人、綜合統計司司長盛來運週三表示：“這種回落也很正常，因爲中國經濟進入新常態以後，增速換擋、增速回落一定程度上講有利於調結構和轉方式。”However, policy makers want to avoid an abrupt slowdown that could cause unemployment to spike and trigger a wave of defaults that could threaten financial stability.
不過，中國政策制定者希望避免經濟突然放緩，因爲這可能導致失業率激增，並引發一波債務違約潮，危及金融穩定。
