Chinese central bank chief think 2010 is the key

China's central bank governor has called 2010 a key year in China's fight to overcome the financial crisis. The head of the People's Bank of China, Zhou Xiaochuan, said in a message to employees that its credit policy next year would be a relaxed one. China is, in fact, one of the countries least affected by the global financial crisis, analysts point out. Its own economy grew by about 9 % last year, as many other key world economies were in recession. They are still expected to struggle to make growth, whereas China says it will grow by 8 % this year. That has been its target for some years - and one that it has consistently overshot. Rate rises The bank would also offer financial support to areas of the economy that promote the expansion of domestic demand, help the agricultural sector and help China move towards sustainable development, Mr Zhou said. Interest rate rises are a possible part of the Bank's strategy in 2010 , but possibly not until the second half of the year. The only major economy whose growth is forecast to come close to China's is India. The International Monetary Fund predicts it will grow by 6.4 %. The US is expected to expand by 1.5 %.