China comfortably beat its target of 8 per cent economic growth last year and came close to overtaking a stagnant Japan as the second-biggest economy in the world, even as signs emerged yesterday that inflationary pressures are building.
The economy accelerated in the fourth quarter to expand by 10.7 per cent and grew by 8.7 per cent in 2009, in spite of the biggest global economic crisis in generations.
China's gross domestic product reached $4,900bn, just short of the $5,100bn Japan is expected to register after last year's contraction, according to Goldman Sachs.
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