A leading investment service has backed China's long term growth prospects despite any short term risks.

JPMorgan has said that it expects its Chinese Investment Trust, the only one in the UK that focuses purely on the region, to build on the 53.2 per cent share price appreciation it has seen over the last three years.

Howard Wang, lead manager of the JPMorgan Chinese Investment Trust, is predicting that the country's economy will expand by around ten per cent this year with the financials, property, consumer, technology and commodities sectors set to be particularly strong.

He said: China is undergoing a transition, with growth increasingly led by domestic consumption and infrastructure investment, instead of exports.

This is particularly evident in rural China, and is the structural theme supporting China's economy over the medium term.

Investors with Barclays Wealth recently suggested that emerging markets will be the areas of growth this year.

In particular, they were looking to countries such as India, China and Brazil to perform well.