World Bank sees China grow 8-9 percent in 2009

China's economy is likely to expand between 8 and 9 percent in 2009, the World Bank's top economist said, calling the fourth-largest economy's continued fast growth its biggest contribution to fighting global recent in the third quarter from 11.9 percent in all of 2007. But officials have said policies to expand rural development and stimulate domestic demand should help shield the country from the worst of a global economic downturn.
China's economy is generally in good shape but must prepare for challenges that are sure to come from the global financial crisis, the central bank governor, Zhou Xiaochuan, said on Sunday. Lin was of a similar mind. "The financial turmoil will have an impact on China," he said. But the country's growth trends, macro-economic settings and external accounts were healthy enough. Lin added he was "confident that China has the ability to smoothly pass through this turmoil and continue rapid growth."