IMF predicts almost 10 percent annual growth for Chinese economy in 2011-12

As predicted by the International Monetary Fund (IMF), in 2011 and 2012 China's gross domestic production (GDP) will grow by 9.6 percent and 9.5 percent year on year respectively, the fastest growth rate among all member countries of the G-20.

In 2010, China's economy grew by 10.3 percent year on year. The Chinese government's target for economic growth is eight percent for 2011 and seven percent for the following five years.

Meanwhile, the IMF has also predicted inflation rates of five percent and 2.5 percent in China in 2011 and 2012 respectively.