The Chinese economy grew by 11.9 percent in the first quarter of this year, the strongest quarterly growth figure since 2007.

The latest figures show that China is about to take over from Japan as the world's biggest economy after the United States.

Analysts predict that China will decide to appreciate the exchange rate of the Yuan. Other countries have been urging China to strengthen its currency, but so far Beijing has refused to do so.

Economists are also urging the Chinese government to slow down growth to prevent the economy from overheating. A spokesperson for Royal Bank of Scotland said this could be accomplished by raising interest rates.