China's GDP growth is likely to reach 10 percent by 2010

Posted By: Anita Nair
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Beijing, Jan 5 (ANI): China's central bank Governor, Zhou Xiaochuan, has said that the country's 2010 economic growth is expected to be about 10 percent.

Xinhua quoted Zhou as saying that he was not quite confident that China's economy has returned to normal because external conditions continue to exert an important impact on the nation's economy.

However, he said that China should be wise in handling its macroeconomic policies and needs to conduct counter-cyclical adjustments against "over-expansion."

Zhou further assured that the Government would promote a market-oriented reform of the interest rate regime in a 'gradual and unwavering way'.

Zhou first delivered his speech on December 15 when policymakers were intensifying their efforts to curb property prices and dampen inflation, as the nation's consumer price index hit a 28-month high of 5.1 percent in November last year. (ANI)

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