HSBC raises 2009 China GDP growth forecast to 8.1%
2009-November-2 Source: China View website
Text Size: A A A | Print | Share by E-mail:

HSBC has raised its forecast of China's GDP growth this year to 8.1 percent, said HSBC Group Chairman Stephen Green Sunday (Nov 1).

The bank's previous forecast was 7.8 percent.

While attending the annual International Business Leaders' Advisory Council (IBLAC), Green said the world financial crisis has not derailed either of the two most noteworthy and transformative trends in global finance: "the rise of China and the shift from west to east."

He also expected effects of China's stimulus packages would further lift the country's GDP growth and sustain the recovery momentum into 2010.

Green said Shanghai, as China's largest city, had kept a relatively stable growth during the crisis, which suggested it had the potential to become one of the world's financial centers comparable to New York or London.

Editor: Miranda
Related News
This site contains material from other media for content enrichment purpose only. The website do not endorse such content and do not bear the joint responsibility of their copyright infringement. The views expressed in written material posted to the bulletin boards of are those of the authors and/or publishers. The website does not endorse information products posted by organizations and individuals here. The originators of these information products are solely responsible for their content. For copyright infringement issues, you shall contact within thirty (30) days. Email:
Info for Non-Residents