China: Economic recovery expected to begin in 2009, World Bank says

8 April 2009

Beijing, China, 8 April – The Chinese economy is expected to start recovering in the second half of 2009, according to projections from the World Bank published Tuesday in Beijing.

A recovery in China, fuelled largely by the country’s huge economic stimulus package, is likely to begin this year and take full hold in 2010, “ the World Bank told official Chinese news agency Xinhua.

The assessment is part of the latest World Bank report on developing countries in East Asia, whose economies, this year are expected to see growth of just 5.4 percent – 1.3 percentage points below what the World Bank projected last December.

For China, the World Bank expects economic growth of 6.5 percent in 2009, or 1.5 percentage points less than the target set by the Chinese government.

East Asian countries included in the report are, China, Indonesia, the Philippines, Thailand, Vietnam, Cambodia, Laos, Mongolia and Papua New Guinea. (macauhub)