World Bank Raises China’s Growth Forecast to 7.2 %

From Caijing.com.cn:

The raised its forecast for China’s 2009 to 7.2 percent in its China Quarterly Update published on June 18, up from a 6.5 percent forecast in March.

The Washington-based international financial institution based its revision on China’s record amount of loans and surging investment, which resulted from the massive 4 trillion yuan stimulus package announced last November.

China, the world’s fastest expanding economy and its third largest, has witnessed strong retail sales and a recovery in real estate and imports in the past quarter.

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