World Bank Raises Economic Forecast for China

The World Bank says China's economy will grow faster than expected this year, but cautions it is too soon to say a sustained recovery is imminent.

The World Bank raised its estimate of China's gross domestic product growth this year to 7.2 percent, up from the 6.5 percent projected in March.

In its quarterly report released Thursday, the Washington-based lender credits China's $586 billion stimulus program with supporting growth by increasing investment in factories, real estate and public works.

Jing Ulrich, the managing director and chairman of China equities for the investment bank JP Morgan in Hong Kong, says the stimulus program helped jumpstart the world's third-largest economy.

Read Full Article from Voice of America

- Posted: 2009-06-18 09:43:09

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