Continuation of the Chinese government's fiscal stimulus, and moderate recovery in the global economy will help generate GDP growth in China of 8.9% in 2010, compared with 8.2% in 2009, the Asian Development Bank (ADB; Manila) says. "The massive fiscal stimulus announced in 2008 and the aggressive monetary easing in 2009 has softened the blow of the global slump on the [Chinese] economy," says Jong-Wha Lee, chief economist at ADB. "The 8% growth target for 2009 set by the government at the start of the year now looks within reach for developing Asia's largest economy, and in 2010 it will be in sight of the country's long-run sustainable growth range of about 9%."
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