China's economy will grow 10% in 2010, the Chinese Academy of Social Science predicted in a report released over the weekend. Investment, consumer spending and net exports are expected to contribute 6.3, 4.2 and -0.5 percentage points to the 10% rate, and the quarterly economy will expand 11%, 10.2%, 9.5% and 9.8% respectively, said the report. Fixed-asset investment and trade surplus are projected to rise 25% and 4.8% throughout the year. Retail sales are forecast to jump 18.7% as the inflation for consumers and manufacturers are estimated to edge up 3.06% and 5.22% respectively, added the report.
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