CHINA
Economy grows 10.7% in 4th quarter
China's economic growth accelerated to 10.7 percent in the final quarter of 2009, adding pressure on Beijing to cool inflation pressures while keeping the country's recovery on track.
The quarter growth announced Jan. 21 exceeded most forecasts and brought 2009's expansion to 8.7 percent. The government had forecast 8.3 percent growth for the year.
China has rebounded strongly from the global downturn, but the government is concerned that heavy stimulus spending of $586 billion and bank lending might fuel inflation.
In related news, Beijing's per capita gross domestic product topped $10,000 for the first time last year, according to the Beijing Bureau of Statistics.
The Japan Times Weekly: Jan. 30, 2010 (C) All rights reserved
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