China Economic Review
Charting China’s changing economic terrain · Since 1990
Bank advisor thinks China recovery will last into 2010
September 9, 2009
Fan Gang, the academic member of the People’s Bank of China’s monetary policy committee seen in our illustration, told a forum he thought China’s economic recovery will be sustained into next year as fiscal stimulus continues to give a boost and private investment and exports both pick up.
His view is the economy would grow by around 8% next year.
That is the pace the government has set as its aim for gross domestic product growth this year, and most economists expect it to meet that target after annual growth picked up to 7.9% in the second quarter.
Fan Gang said, "Talking about the economy next year, I am personally optimistic . I think the recovery will continue.
"I believe China will see positive growth in exports next year. We’re still confident that China can achieve around eight percent growth next year."
Forbes reported that World Bank President Robert Zoellick agreed Beijing should maintain relatively expansionary policy settings for now rather than thinking of an exit strategy.