China GDP growth estimated at 11% for 2010
An article from Shanghai Daily discusses the belief of Chinese officials that GDP will rise 11% for 2010 largely due to fiscal spending by the government. One point of interest to multi-national corporations is that part of that spending will be on infrastructure. Not surprising since China has mad it an investment priority to build the infrastructure that not only benefits their own people but provides an incentive for North American and European companies to continue investing in China.
An excerpt from the article:
China's economy may grow 10 to 11 percent on an annual basis this year based on more fiscal spending, a senior government economist said, striking a more bullish note on the economy than other analysts.
Some fiscal expenditures are channeled as government investment into infrastructure construction, education, healthcare and subsidies for start-up businesses. More government expenditures can help raise domestic demand and stimulate the economy, Zhang said.
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