China’s economy to grow 9.5 pc in 2010: World Bank

By IANS,

Beijing : China’s economy would expand 9.5 percent in 2010, the World Bank said in a report released Wednesday.

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“In 2010, government-led investment is bound to decelerate, while exports are likely to continue to recover amid a pick up in the global economy, and consumption would remain solid,” Xinhua news agency quoted Ardo Hansson, the World Bank lead economist for China, as saying.

Despite the global recession, China’s economy grew 8.7 percent in 2009. The growth momentum continued in the first months of 2010.

The World Bank found that massive investment-led stimulus was the key driving force in propping up the economy last year.