ADB raises China growth estimates

The Asian Development Bank revised its growth estimates for China to 9.3% this year and 8.9% next year, up from its September forecast of 9.2% and 8.8% respectively, the Wall Street Journal reported. The forecasts could be affected by disorderly adjustment of the growing global payments imbalance, a sharp upturn in the global interest-rate cycle, further increases in oil prices and a possible avian flu pandemic, the bank said in its December Asia Economic Monitor.