China weathering global slump better than expected, World Bank says as it raises GDP forecast

China's economy is weathering the global slowdown better than expected, the World Bank said Thursday as it raised its growth forecast for the Asian giant to 9.8 percent from 9.4 percent.

The World Bank cited the country's strong domestic demand and sustained competitiveness in exports as key strengths.

"Amid weaker and uncertain global prospects, China's growth will be supported by strong international competitiveness and a robust domestic economy," David Dollar, the bank's country director for China, told reporters in Beijing.

Just two months earlier, the World Bank had lowered its growth estimate for China to 9.4 percent from 9.6 …