According to a new report, China’s economy is expected to grow around 8.5 per cent in 2011 amid a slowdown in exports and global downturn.

The Asian Development Bank (ADB) said in its annual report today said that the country’s economy is expected to grow around 8.5 per cent, which is lower than the earlier estimate of 9.2 per cent in 2011. According to the report, the country’s economic growth will moderate over the coming two years but will remain higher than 8 per cent due to strong investment, rising private consumption and a more stable global economy.

Paul J Heytens, ADB Country Director for China said that the Asia’s largest economy will grow at a rate above 8 per cent. China’s GDP growth in 2012 is forecast at 8.5 per cent as the government focus shifts from fighting inflation to boosting domestic growth.

China's economy expanded by 9.2 per cent in 2011 to 47.16 trillion yuan from a year earlier when it grew 10.4 per cent in 2010. The ADB expects the exports and imports from the country to grow by around 15 per cent and 18 per cent in 2012.