IMF: China's economy to grow 9.6%

The International Monetary Fund (IMF) forecast in June reveals that China's economy will expand 9.6 percent this year, more than four times the pace for advanced economies.
Industrial output advanced 15.1 percent in June, the most since May 2010. The expansion in industrial output compared with the median 13.1 percent gain in a Bloomberg survey. Easing power shortages and "robust construction activities" may have boosted the number, along with a pickup in growth in steel production, according to Bank of America Merrill Lynch.
Demand is holding up in the fastest growing major economy even after the central bank boosted lending rates five times since mid-October and lifted bank reserve requirements to a record. Premier Wen Jiabao said that stabilising prices remains the top priority.New Arrivals