Konstantinov: Chinese growth of 8%-9% sustainable

Allianz's Michael Konstantinov is backing Chinese GDP growth to remain around 8%-9% for the next few years despite expectations the country's central bank will act to tackle inflation.

The manager of the £877m Allianz RCM BRIC Stars fund says China - which has reported an increase in growth of 9.7% in the first quarter compared to 2010 - will be able to sustain such a high growth rate for the next few years. "I believe China will remain the growth engine within emerging markets, with GDP growth around 8%-9% for the coming years." He says growth levels at about 9% will bolster earnings and seemingly prompt a raise in the market by the end of the second quarter. Konstantinov, whose fund has returned 13.6% over the last three years, also shot down expectations the C...