Let private sector take the credit

Yuwa Hedrick-Wong, MasterCard International's economic adviser for Asia-Pacific, is confident of strong economic growth in China this year. But he wants to see a greater contribution from the private sector.

'China's economy has to grow faster and slower at the same time - faster in the private sector and slower in the state sector. This complex challenge is likely to be a dominant feature of China's economic growth in the early 21st century,' Mr Hedrick-Wong said.

The mainland's rising exports had been matched by an increase in imports due to a buoyant domestic market, with benefits for Asia-Pacific neighbours, he said.