China's economic growth to reach 10.1% this year, ADB estimates

The latest released analysis report on East Asia's economy by Asian Development Bank (ADB) on July 18th showed that thanks to the continuous restoration of foreign export and increase of interior demand, the economic growth would reach 7.5 per cent in East Asian.

The strengthening ability to deal with soaring oil price, inflation, money tightening and instability of commercial market is one of the factors boosting Asian economic growth, ADB said in the report, "Asian Economic Review".

The report also states that in China, the economy this year is supposed to achieve a growth of 10.1 percent, and exports will also rise. Meanwhile this will promote those burgeoning industrial regions like South Korea, and etc. The arisen industrialized economy in South Korea, Hong Kong and Taiwan of China could realize an estimate growth of 5.1 per cent, higher than 4.5 percent of last year. Besides, the ten economies of Association of South East Asian Nations (ASEAN) are supposed to grow at a pace of 5.5 percent.

The risks facing East Asian economy mainly include the abrupt plunge of international demand, surging energy price and sudden change and deterioration of global balance of payments.

By People's Daily Online