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China GDP set to grow 9.5% this year

Source:   Time:

  The Chinese economy will grow by 9.5 percent this year, helping it overtake Japan as the world's second-largest economy, but the risk of an asset bubble remains a serious challenge for the country, a report from a United Nations agency said on Thursday.

  The report also warned Asian countries of the risks brought by short-term capital inflows, which was echoed by a leading Chinese foreign exchange official, who vowed to beef up monitoring of cross-border capital inflow to ward off potential asset bubbles.

  In the latest economic and social survey launched by the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) on Thursday, it increased its forecast for China's gross domestic product (GDP) growth to 9.5 percent from the 8.8 percent the United Nations predicted in December last year.

  

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