World Bank predicts a renewed boom in China

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

The World Bank today raised its 2009 economic growth forecast for China from 6.5% to 7.2% .

Though that is down on the Beijing government's ambitious 8% target for 2009, it is the strongest rate of growth of any major world economy, and compares favourably with the peak of the Chinese boom in 2007 which expanded at 13%.

A $580 billion (£353.5 billion) stimulus by Beijing will "strongly support growth" this year, said Ardo Hansson, the World Bank's lead economist for China, by pumping money into the country's economy through higher spending on public works.

The World Bank cut its 2009 forecasts for China last November from 9.2% to 7.5% and again in March to 6.5%. It now says the growth rate for 2010 will be 7.7%.

The China upgrade came as business leaders meeting in Seoul at the World Economic Forum on East Asia said the end of the current recession will see Asia take leadership in the world economy.

Peter Sands, chief executive of Standard Chartered Bank, said: "There is no doubt the crisis has accelerated the shift in economic power from the West towards Asia."