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According to Zhang Liqun, a Chinese economist at the Development Research Center, China's gross domestic product growth will likely increase by 9.5% in 2010 which will be mostly helped by strong domestic consumption and corporate investment.

"I expect domestic consumption to grow at a fairly fast pace this year on the back of consistent policies to boost car and owner-occupied home sales," Zhang was quoted as saying by the official China Securities Journal.

Last year Chinese GDP increased by 8.7%.