China's GDP 'to grow 10% in 2010'

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08 Feb 2010

China's gross domestic product (GDP) will grow by around ten per cent this year, a new report has forecast.

According to the Centre for Forecasting Science, which is part of the Chinese Academy of Sciences (CAS), GDP growth will slightly slow throughout the year, with it standing at 11 per cent in the first quarter, 10.2 per cent in the second, 9.5 per cent in the third and 9.8 per cent in the final three months of the year.

Meanwhile, China's real estate sector will continue to remain strong, reports People's Daily Online.

"The demand for commercial residential buildings will still be strong and both the total area of houses sold and the total housing sales revenue will grow slightly," the news provider said in its summing-up of the report.

Last month, government economist Zhang Liqun forecast that real estate investments in China will grow by up to 40 per cent in 2010, reported the Shanghai Daily.
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