ADB rais ball valve manufacturers es China's economic growth forecast for 2009

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ADB raises China's economic growth forecast for 2009Published: 23 Sep 2009 18:27:41 PST<p class="authorInfor"]</p]<!--begin CK content--]<ul class="narrow"]Top 5 News From ChinaKnowledge.comMirae Asset to set up fund management JV in ChinaChina's coal imports fall to 11.77 mln tons in AugCapital Group cuts stake in BYD to 5%Zhejiang Transfar to raise RMB 505 mln through private placementGanzi Atlantic Silicon starts EUR 820-mln silicon project in Kangding<P]Sep. 24, 2009 (China Knowledge) - The Asian Development Bank raised its forecast for China's economic growth this year to 8.2%, a sharp increase from the 7% it estimated in March, sources reported.</P]<P]The surging banking lending and growing fixed asset investment are the two main reasons for the forecast change, according to the Manila-based bank.</P]<P]Chief ADB economist Jong-Wha Lee said that the Chinese government's massive stimulus measures and relatively loose monetary policy have ""softened the blow of the global slump on the economy". </P]<P]It is also estimated that China's inflation will rise to 3% in 2010 due to the higher economic growth. </P]<P]The bank also raised its forecast for East Asia's economic growth to 4.4% from 3.6% and for South Asia to 5.6% from 4.8%.</P]<P]In addition, Bank of Communications<601328><3328> said earlier that China's economy will continue to rebound from the global financial recession in the second half of this year and is expected to grow 8.5% for the whole year. The Chinese lender also forecast that the country's gross domestic product will expand 9% in the third quarter and 9.8% in the fourth quarter. <BR]</P]

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