Swelling forex reserves won't affect renminbi-dollar rate

The yuan's value against the dollar will not change much this year despite China's swelling foreign exchange reserves, which hit a record of near $2.4 trillion in 2009, analysts said.

Meanwhile, the country's new bank lending reached 9.6 trillion yuan ($1.4 trillion), almost double that in 2008, which has led to widespread fears about the bursting of potential liquidity-fueled bubbles.

But despite the predictions of some foreign commentators, the possibility of an economic "hard-landing" in China this year is slim, economists said.