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The annual growth rate of China's economy will rise from 7.5% to about 8.3%, while the world economic growth rate will only increase from -2% to about 4% during the same period.
The Asia-Pacific Strategic Forecasting Conference was held in Hong Kong today, organized by The Economist Enterprise Group, part of The Economist magazine. The Economist Intelligence Unit's chief UK economist, Robin Bu, delivered the forecast to more than 200 business leaders attending the meeting.
Robin Bu said that as the US economic growth continues to slow down, the economy is affected by a series of financial fraud scandals and stock market declines, and the European economy is also on the verge of entering a double recession, while the Chinese economy will continue to develop.
Ledger, vice president and director of The Economist Corporate Organization, believes that the increase in market consumption and exports, stable investment growth, falling unemployment, and improving people's welfare are the main factors driving China's economic growth.
Ledger predicts that by 2011, China's annual consumption growth rate will rise to 9%, the annual export growth rate will rise to 12%, the annual investment growth rate will reach 12.5%, and the annual inflation rate will only increase by 2.5%.
