China’s 2009 GDP growth to hit 10%: State Council researcher
China’s economic growth is estimated to be 10% in 2009 despite the negative impacts brought by the global financial crisis, the official Xinhua News reported, citing Zhang Liqun, the Development Research Center of the State Council researcher.
Zhang noted China’s huge domestic consumption and investment potentials as two major reasons for the strong economic growth, adding that China will see stronger economic growth at the second half of next year.
The personal income of Chinese residents will continue to increase, which will lead to enlarging demand for houses and automobiles, said Zhang.
However, he also urged domestic enterprises to step up efforts in upgrading business structure in a bid to fare better in crisis.
In the first three quarters of this year, China’s gross domestic product (GDP) grew 9.9% year-on-year to RMB 20.16 trillion.
Tags: China Financial, economic, GDP