BEIJING, July 15 (Xinhuanet) -- Yao Jingyuan, an economist with the National Bureau of Statistics said this during the third Forum of Overseas Chinese in Beijing, reported CRIENGLISH.com.

    Yao Jingyan says the price of steel products and cement has fallen, indicating that the Chinese government's economic policies are working effectively. He predicts that China's economic growth this year could reach or even surpass 7 percent.

    The economist also pointed out problems faced by the Chinese economy, such as unemployment and shortages of natural resources.