China's economy will grow at a faster speed and the inflation rate will remain at three percent in 2010, the Shanghai Securities reported Monday, citing Ha Jiming, chief economist with China International Capital Corp (CICC).
CICC raised its forecast of China's economic growth to 10.5 percent from the original 9.5 percent, Ha said. The projection was made because of more fixed-asset investment, especially in the real estate sector, according to Ha.
As US economy improved and its unemployment rate declined, CICC also raised China's export forecast. Consumption would play a more important role in the nation's economic development, Ha was quoted as saying.
