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August 10, 2009

China Economy May Grow 9.4% in 2009 and Growth forecast up for India

Goldman Sachs Group Inc. raised its forecast for China’s economic growth this year to 9.4 percent, citing “strong momentum” and the likelihood that the government will delay tightening policy. Hong Kong-based economist Michael Buchanan said China may expand 11.9 percent in 2010.

Economies in Asia excluding Japan will grow 5.6 percent this year, and 8.6 percent in 2010, Goldman Sachs said, lifting its forecasts. Goldman left its forecast for India’s growth unchanged in the current fiscal year, and raised it to 7.8 percent for the 12 months ending March 2010.

China attaches great importance to the development of new and renewable energies, and estimates that the development planning of new energies will be completed within the year, said Sun Qin, vice chief of National Energy Administration, at the First Asia Energy Forum held in Guangzhou on August 9.

the plan is expected to boost development targets for nuclear, hydroelectric, wind and solar power and increase efficiency of cars and buildings and reduce coal usage.



As of the first half of 2009, a total of 7,467 small thermal [coal] power units had been shut down, and their installed capacity totaled 54.07 million kW, with annual sulfur dioxide emissions reduced by 1.06 million tons and carbon dioxide by 124 million tons
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