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China's GDP to grow 9.5% in 2010

By Zhao Tingting (chinadaily.com.cn)
Updated: 2010-02-10 15:01
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China has little chance of incurring severe inflation in 2010 and CPI will grow about three percent year-on-year, China Securities Journal reported Wednesday, citing a report from China Construction Bank.

GDP growth is forecast at 9.5 percent, the report also said.

Investment, the major momentum for China's economic growth, is expected to expand at a slower pace of 26 percent year-on-year, four percentage points lower than the previous year.

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In order to keep the steady growth of social consumption, the government may issue new stimulus measures in 2010. The total retail volume of social consumer goods is predicted to grow 18 percent in 2010 from the previous year.

China's real estate sector will face tighter adjustment and control from the government, slowing sales and stabilizing housing prices in 2010, according to the report. The average price of newly-built housing rose about 900 yuan per sq m, or 21 percent year-on-year in 2009.