Domestic investment bank China International Capital Corporation (CICC) projected China's GDP to grow by 11% in 2008 in a recent report, according to state media. CICC's report also projected that the yuan's appreciation against the US dollar could accelerate by up to 10% to end the year at RMB6.57 to the US dollar. The Asian Development Bank's forecast projects a similar growth rate of 10.8% for China's economy, despite government efforts to slow growth to less than 10%.
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