World Bank forecasts China 2009 GDP growth at 7.5%

China's gross domestic product (GDP) growth will slow from 9.4% this year to around 7.5% in 2009 due to the global financial crisis, the World Bank forecast in its quarterly update.

The government-influenced spending is expected to account for over half of the GDP growth next year, said the World Bank, adding that the recent stimulus package would be beneficial to the country's long-term development and further improve people's living standards.

In addition, the World Bank sees China's exports growth to fall to 3.5%, compared with 11% this year, and net external trade is likely to make a negative contribution to China's economic growth.