China's growth higher than expected at 10.3%

Official figures show China's GDP grew 10.3% in 2010, beating market expectations of a slowdown.

The fourth quarter also undermined predictions of slowing growth rates, rising to 9.8% from 9.6%, the BBC reports. However, inflation cooled in December to 4.6%, dropping from a 28-month high of 5.1% the previous month, on the back of deflating food price pressure. Overall, inflation for 2010 was 3.3%. Following the release of this data, short-term market interest rates surged almost 2%, although share prices on the Shanghai stock exchange fell 3%. Many are concerned these robust growth results will spur the government's plans to slow the economy in the imminent future. So far, ...