Economic growth in estimated at 9.5%: World Bank
year-end, with a higher inflation rate and consumer price index (CPI), announced the international organization in a report Tuesday.The leveled up inflation in the country this year is to blame on reasons such as the rise in prices of imported raw materials; the rise in prices of agricultural products domestically and the rising cost of the Chinese labor force, to cite a few.
In September only, China's foreign exchange rate added 406.769 billion yuan ($61.136 billion), a record high in the past 16 months.
But according to the bank, in 2011, China may see a slower economic growth, estimated at 8.5 percent.
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