While double-digit expansion has been the norm for the past five years, Pan expects the next target to be 8 or 9%.
After years of double-digit expansion rates, the economy has now settled into a slower pace of growth of around 7.5 percent this year.
The economy expanded 8.1 percent compared to a year earlier, significantly slower than previous quarters, and a sharp cooldown from the double-digit expansion seen in much of the last decade.
While China's growth has slowed a bit recently, its economy is still projected to surge by about 10 percent this year, continuing a remarkable three-decade streak of double-digit expansion.
The export number represented the third consecutive month of double-digit expansion, as demand from overseas was buoyed by a weaker rupee, which has helped make Indian goods cheaper for purchasers outside the country.
China is putting its own brakes on the economy with reforms that are likely to ensure that the double-digit expansion rates of much of the last three decades are over.
Years of double-digit expansion have increased Chinese auto production to almost 17 million cars, minivans, pickup trucks and sport utility vehicles last year, from fewer than two million in 2000, making it almost twice the size of the United States or Japanese industries and far larger than any European country's auto manufacturing sector.
After years of double-digit expansion, China's pace of growth has cooled in recent years — a slowdown that has in part been engineered by the authorities in Beijing as they try to ease a potentially worrisome flood of lending, forestall asset price bubbles and direct the economy toward higher-quality expansion.
The Richardson, Texas, company is also moving into higher growth areas like the handbag market that has seen double-digit expansion for the past three years.
A decade of growth and reform in the continent's core economies and business expansion fueled by double digit FDI increases have exposed a dearth of reliable market stats.
