WB: China s economy to grow 9.5% in 2010

Write: Kadin [2011-05-20]

WB: China s economy to grow 9.5% in 2010

From: China Daily

China s economy would expand 9.5 percent in 2010, fuelled by a transformed growth model featuring less government-led investment, recovered exports and solid consumption, the World Bank (WB) said in a report released on Wednesday.

In 2010, government-led investment is bound to decelerate, while exports are likely to continue to recover amid a pickup in the global economy, and consumption whould remain solid, said Ardo Hansson, lead economist for China of the WB.

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 report, which finds that massive investment-led stimulus was key driving force in propping up the economy last year.