China economy to grow 10% next year: Think-tank

China economy to grow 10% next year: Think-tank

Beijing: China’s economy will probably grow about 10% next year, roughly level with a 9.9% pace this year even as investment slows, a top government think-tank said on Tuesday.

The Chinese Academy of Social Sciences also forecast that inflation would remain moderate, with the consumer price index rising 3.3% next year, up a touch from an expected 3.2% this year.

Fixed-asset investment growth, the most important engine of China’s economy, will slow to 20% in 2011 from an estimated 23.5% pace this year, CASS said in its annual blue book of forecasts.

Economists polled by Reuters also see the Chinese economy growing 10% this year, but differing from CASS, they expect it to slow to 8.9% next year.