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China ‘logs double-digit growth in 2010’

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Jan 19, 2011

China’s economy grew 10.3 percent last year but inflation exceeded the government’s full-year target, Hong Kong-based Phoenix Television said on its website Wednesday.

The broadcaster cited unnamed central bank sources as saying the figures had been “leaked” a day before the government was due to release key economic data for December and for 2010.

The growth in gross domestic product compares with a revised increase of 9.2 percent in 2009 and marks the fastest annual expansion since the onset of the global financial crisis — defying Beijing’s efforts to cool the economy.

Analysts had predicted that the world’s second largest economy grew by around 10 percent last year on the back of strong demand for Chinese exports and massive investment in the country’s property sector.

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This article was posted: Wednesday, January 19, 2011 at 8:20 am

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