Hungarian-born US global financer and philanthropist George Soros told Xinhua Sunday after a speech in Shanghai that he is optimistic of China's economic development, and predicted China's economy would grow faster than expected.

George Soros, chairman of Soros Fund Management, made a speech Sunday at Fudan University in Shanghai, east China.

Soundbite: George Soros, chairman of Soros Fund Management, LLC "Generally speaking, I think that we have a bad market era. But I think China could be an exception. I am not in the position to say, but I think in some ways, China is better situated than most of the countries to have a last state recovery. So I have more optimism in China than about other markets."

Referred to the worries over the soaring prices of bulk stock, Soros thought the pressure of inflation was obvious.

Soundbite: George Soros, chairman of Soros Fund Management, LLC "Well you see, you will have this fear of inflation, slowing down the recovery. That’s why the recovery is likely to be a rather slow and no too far. "

He noted that there is possibility of global inflation and the recovery will be rather slow. At the same time, Soros said he would not make a huge investment in the stock market and fixed assets at present.

Speaking at the development of new energy industry, Soros thinks it’s a serious and global problem, however, costing a lot of money.

It is learned from Soros Fund Management LLC that although the future of new energy industry is uncertain, the company has invested in the sector and agriculture as well.

Xinhua News Agency correspondents reporting from Shanghai.

(XHTV June 8, 2009)