China's economy would expand 9.5 percent in 2010, fuelled by a transformed growth model featuring less government-led investment, recovered exports and solid consumption, the World Bank (WB) said in a report released Wednesday.

"In 2010, government-led investment is bound to decelerate, while exports are likely to continue to recover amid a pickup in the global economy, and consumption whould remain solid," said Ardo Hansson, Lead Economist for China of the WB.

Despite the global recession, China's economy grew 8.7 percent in 2009, and the growth momentum continued in the first months of 2010, said the report, which finds that massive investment-led stimulus was key driving force in propping up the economy last year.