ADB raises China GDP growth forecast to 9.6% for 2010
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The Asian Development Bank (ADB) Tuesday lifted its forecast for China's 2010 Gross Domestic Product (GDP) growth while lowering its forecast for 2011 on account of expected monetary tightening measures.
ADB estimates China's GDP will grow by 9.6 percent in 2010, higher than the 8.9 percent it forecast last September.
The expansion rate will cool to 9.1 percent in 2011 as the government moves to curb inflation and asset bubbles, according to the annual Asian Development Outlook report released Tuesday.
China's inflation is expected to grow 3.6 percent this year and slow to 3.2 percent in 2011, the report said.
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