Africa is in need of 31 billion U.S. dollars of investment for infrastructure construction, World Bank Managing Director Ngozi Okonjo-lweala said at the China Mining 2010 on Tuesday.
China’s comparatively faster expansion, together with an expected 25 percent appreciation of the yuan, should be enough for its nominal gross domestic product to exceed that of the United States by the end of the decade.
China’s four biggest banks will not issue any new loans to property developers for the rest of the year.
The central bank is stepping up policy tightening because of rising inflation.
The move is part of Chinese government’s efforts to curb inflation and investment on the eve of Thursday’s release of figures that are expected to show inflation surged past 4 percent in October.
Chinese and European leaders have said they plan to discuss the impact of quantitative easing at the G20 summit this week in Seoul.
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