Sun: China's GDP will grow by 10.5% this year

"China's GDP growth rate will reach 10.5% this year," Sun, chief economist for Nomura Securities China, told reporters this year that China's investment and consumption boom will continue and lead to two-digit growth. "China's economy, driven by domestic demand, has grown for the first time in more than 10 years.　　Sun that China's GDP will grow by 10.5% this year and 9.8% next year.　　Since the economic crisis, our country has launched a stimulus package, sun, "given that most projects are to build infrastructure projects for many years and therefore require several stages of bank lending to complete". "In fact, as of last November, the capital needed to complete the construction of urban fixed assets was 22 trillion yuan, equivalent to 73% of China's GDP in 2008." We don't think China will tighten monetary policy this year, and if there is a lack of follow-on funding for public projects under construction, non-performing loans may rise quickly, and if banks give priority to public projects, private investment could be squeezed out.　　"Sun thinks. Sun also said 2010-2011 is unlikely to be a major overcapacity problem. "Overcapacity has been around for years, but mostly in manufacturing, mainly because of strong investment growth in manufacturing in the last investment boom." Last year's investment spree, however, focused mainly on infrastructure projects, particularly in the Midwest, and is unlikely to exacerbate overcapacity. ”