China targets 8% growth in 2010

China is to hold its economic growth target at 8% in 2010 despite the global downturn.

Beijing has successfully targeted 8% growth for the last few years and is expected to do so once again thanks to the massive government stimulus measures introduced over the last 12 months. The Chinese government also said industrial production would grow rapidly next year. Minister of Industry and Information Technology Li Yizhong says: "Based on the central government's target for around 8% economic growth, we're aiming for around 11% growth in industrial output." The International Monetary Fund has forecast China's GDP growth at 9%, compared with 1.5% in the US, 0.9% in the UK and...