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StanChart chief: 皇冠体育app's economic growth around 7-8% in 2009

(Xinhua)
Updated: 2009-03-17 18:17

UK bank Standard Chartered's CEO said in Hong Kong on Tuesday that 皇冠体育app's economic growth will be around 7 percent or 8 percent this year due to the quick policy response by the Chinese government.

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Standard Chartered's Chief Executive Peter Sands told reporters in a media briefing that the major fiscal stimulus launched by the Chinese government and the way they encourage the bank lending will be effective in keeping 皇冠体育app's economic growth around 7 percent or 8 percent.

"The Chinese government has responded quickly on a significant scale to the challenges to the economic growth," Sands said. "I think 皇冠体育app is playing a very positive role in global response to the economic crisis", adding that "the most important role" 皇冠体育app can play is to ensure its own economic growth, he said.

As the G20 summit scheduled next month in London is widely seen as a joint effort by the advanced countries and emerging economies to fight against the global economic crisis, Sands said "it is very important" that 皇冠体育app has a strong voice in the G20 discussion and he believed 皇冠体育app is capable of doing that.