While recovery in developed economies is sluggish, the world is looking to emerging markets, especially China. At the World Economic Forum in Davos, expectations are increasing over China's rapid growth and its role in boosting the global economic rebound.

The vigorous recovery of emerging markets is boosting the world's confidence in coming out of the global economic slump. As the rebound in advanced economies remains slow, many expect China's strong growth could provide a lucrative market for the world.

Figures from Goldman Sachs show that China is expected to overtake Japan as the world's second-largest economy in the near term. This has also fueled an optimistic sentiment at the World Economic Forum.

However, the nation itself thinks the world has over-estimated its growth, as it still has a long way to go toward a sound development.

Huang Xingguo, Mayor of Tianjin, said, "China itself should be clear-minded. We are still facing tough challenges and problems, such as development gaps between urban and rural areas, as well as unreasonable economic structures, especially industrial structures. We have to strive for a sustainable economy."

China's National Bureau of Statistics reports the country's GDP rose by 10.7 percent in the fourth quarter of 2009, bringing growth for the whole year to 8.7 percent.

Vice Premier Li Keqiang has reiterated that China's economy still faces uncertainties and the government will keep its stimulus policies this year.

Editor: Guo Changdong Source: CCTV