China expected to grow 9.5 per cent this year

China is expected to grow by about 9.5 per cent in 2010, a government think-tank said, exceeding forecasts made by outside experts for the new year.

The world's third-largest economy will be boosted by double-digit growth in real estate investment and mild inflation, the State Council's Development Research Centre said in a report published in the China Economic Times. "In 2010, the external environment will remain rather grim but it will not deteriorate further," said Zhang Liqun, a macroeconomist at the centre, in the report.

Zhang added exports – a key driver of economic growth – will start to grow again in the coming year.

The think-tank's 2010 forecast is well above Beijing's target of eight per cent – seen as crucial for job creation and ensuring social stability – and is higher than estimates for 2009.

 

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