World Bank report increases China's GDP forecast for this year

In Wednesday, the World Bank released its latest China Quarterly report, which revised its forecast for gross domestic product this year, from 7.2% in June to 8.4%.　　The report also expects a slight increase in China's economic growth to 8.7% next year, which is basically consistent with the domestic market. It is understood that the World Bank's "China Quarterly Bulletin" regularly evaluates China's economy.　　In March this year, the World Bank expects China to grow at only 6.5% per cent this year, followed by a rise to 7.2% per cent in June. The bank believes China is steadily achieving its GDP growth target of 8% per cent this year, thanks to the government's massive fiscal and monetary stimulus measures.　　Ardo, China's chief economist at the World Bank, said China's domestic demand growth has a broad potential, with policy stimulus, real estate and other market sales continue to rebound, consumption has maintained a good growth. Foreign investment banks are more positive in their assertions.　　Sun, chief analyst at Nomura Securities China, said the September economic data confirmed a full recovery, and if those trends continued, private sector investment would be another driver of economic growth in the next few quarters, along with public investment. "We expect the V-shaped recovery to continue, with real GDP growth in the fourth quarter of 2009 and the first quarter of 2010 reaching 11% and 13% per cent year-on-year, respectively." Sun said in a recent report to reporters.