World Bank forecasts 9.5% China growth
/An article in the Shanghai Daily newspaper discusses new growth projections for China this year. The World Bank is predicting 9.5% growth. This growth will be lead by investment from the private sector as well as increased consumption and away from government led stimulus.
An excerpt:
China's economy is projected to grow 9.5 percent on an annual basis this year, with a shift from government-led investment to a mix of solid consumption, recovered exports and stable investment, the World Bank said today.
"Despite the global recession, China's economy grew 8.7 percent in 2009, and the growth momentum continued in the first months of 2010," said the World Bank's latest China Quarterly Update, a regular assessment of the China's economy.
It lay the ground for the bank to give an optimistic forecast of 9.5 percent for China's economic growth this year, which is well above the Chinese central government's target of 8 percent and United Nations' earlier prediction of 8.8 percent.
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