China think-tank sees faster GDP growth in 2010 | business | Hindustan Times
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China think-tank sees faster GDP growth in 2010

business Updated: Dec 07, 2009 11:04 IST

China's economy will grow 9.1 per cent next year, speeding up from an 8.3 per cent pace this year, as exports recover, a government think-tank said on Monday.

China's exports may increase by as much as 18 percent in 2010 after falling 19.5 percent this year, thanks to a rebound in global demand and flattered by a low base after a dismal 2009, the Chinese Academy of Social Sciences (CASS) said.

In its annual blue book forecast of coming year, it said fixed-asset investment, China's most important growth engine, would rise 23 per cent in 2010, a slowdown from 32 percent growth in 2009.

Consumer price inflation will be moderate at about 2 percent, and China is unlikely to see any serious price pressure in the near term, it said. Moreover, CASS said that widespread industrial overcapacity would suppress inflation for the foreseeable future.

"Overcapacity is no longer a problem in several industrial sectors. It can now be seen in almost all industries," Zhang Tao, a researcher with the CASS, said at a news conference.