China's economic growth rate will top seven percent year, judging from the favorable domestic and international factors, said Chinese economist Hu Biliang.

He said that the country's gross domestic product for the first three quarters rose 7.4 percent, a slight drop from the same period last year, but in a crucial year of readjustment in economic structures, the rate is commendable.

Hu said that this year's annual growth rate could reach 7.2 percent, citing the current status of the economic performance and the sound implementation of policies during the nine months.

The economy has kept developing at a high speed because of a number of stimulating forces, which include raising salaries and welfare handouts, as well as charging tax on savings interest.

Internationally, the appreciation of the Japanese yen, the recovery of the economy of Japan and the whole Asia will benefit China's export, he said.

The acceleration of the European economy and the improvement of the Sino-US relationship will also attract more overseas investors to China, Hu said.