China economy to grow 8 pct in 2010: PBOC's Fan

SHANGHAI | Mon Aug 24, 2009 4:38am EDT

SHANGHAI (Reuters) - China's economic growth is likely to stay at 8 percent next year as property and corporate investment and rising exports take up the slack from waning government investment, central bank adviser Fan Gang said in remarks reported on Monday.

Fan added that the Chinese economy had established a recovery trend and the pace of the recovery was quite rapid, the official Shanghai Securities News reported.

The People's Bank of China adviser also told a conference that the global economy had stabilized, although he predicted it will still experience a period of weakness in the future.

He added that the composition of next year's economic growth would be more diverse and healthier than this year's.

China's latest economic data for July indicated that while growth was moderating after a strong second quarter, the recovery remained on track to achieve the government's goal of 8 percent growth for the full year.

(Reporting by Edmund Klamann; Editing by Ken Wills)
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