China's economy to grow 8% annually: think tank

China's economy is projected to grow at an average annual 8% from 2006 to 2010, before slowing to about 7% between 2010 to 2020, according to a Development Research Centre (DRC) report presented at the 2005 China Development Forum. The DRC, which reports to China's cabinet, says the source of China's growth between 2006 to 2020 will be "rapid" capital formation, which it said will account for between 60-70% of economic growth.