China's economy is expected to grow at an annual rate of at least 8 percent this year, with consumption, investment and foreign trade maintaining their pep.

The prediction was made in the spring edition of the report on China's foreign trade, which was publicized by the Ministry of Commerce on Wednesday at the ongoing Chinese Export Commodity Fair held in Guangzhou, capital of South China's Guangdong Province.

The two-week fair, a biannual event launched in 1957, consists of two phases: manufactured goods, textiles and garments, foodstuffs and medicines in the first phase from April 15 to 20; and souvenirs, gifts and household commodities in the second, from April 25 to 30.

The report said last year China realized 18.23 trillion yuan (2.27trillion U.S. dollars) in gross domestic product, or GDP, up 9.9 percent over the previous year.

In the first quarter of this year, the GDP stood at 4,331 billion yuan (534 billion U.S. dollars), up 10.2 percent year on year, the report said.

Source: Xinhua