Deutsche bank report: China's GDP to grow 10.4 percent in 2006

A Deutsche Bank report predicts that China's economy will grow 10.4 percent in 2006, lifting its earlier forecast by 0.5 percentage points.

The report by Ma Jun, an economist with the bank, says China's economy grew faster than expected in the second quarter and underlying consumption trends are strong.

China's economy grew 10.3 percent in the second quarter.

The report cranked up its forecast for industrial added value growth in China by 0.6 percentage points to 16.3 percent.

It made the prediction that China's economic growth rate would fall 1.5 percentage points in 2007 as economic growth began to slow in the United States, leading to a drop in exports.

Source: Xinhua