By now the entire world is reeling from the recession that has effected everyone, in one way or another….economic growth has been dismal and recovery has been slow…..but yet there is a bright spot….China….

the UK’s Guardian is reporting:

The Chinese economy returned to double digit growth in the fourth quarter, with a jump of 10.7% year-on-year, but inflation is creeping up again amid fears of overheating.

Although the fourth quarter GDP figure was slightly below analysts’ expectations, it was the fastest for two years and a marked increase on the previous quarter’s 9.1%. It took 2009’s growth to 8.7%, outstripping the official growth target of 8%, the level some believe essential to create enough jobs to match growth in the labour force.

“China has become the first, on the whole, to achieve recovery and stabilization in its economy,” Ma Jiantang, commissioner of the National Bureau of Statistics, told a press conference in Beijing. But he said China would avoid major adjustments to economic policy given the “uncertainties” it still faces and a weak global outlook.

So, what is China doing right?  In the sense that they are showing a steady growth in their economy…..

ADDENDUM:  I have seen a reason for this success (?)…….at least according to the AP:

Bank of China plans to sell up to 40 billion yuan ($5.8 billion) in bonds to replenish its capital and meet government standards following a record surge in lending last year amid Beijing’s stimulus measures, a state-run news agency reported.Regulators have warned some banks that they have fallen below minimum capital requirements after handing out some 9.5 trillion yuan in loans last year. Banks are expected to scale back lending to roughly 7.5 trillion yuan in 2010.

China’s banking industry is regarded as the healthiest of any major economy because institutions avoided the mortgage-related turmoil that battered Western lenders.

Beijing hopes cooling the pace of lending will keep its economy growing without creating inflation and overheating. Other nations are counting on that growth and a healthy demand from China for their goods for their own recoveries.