BEIJING - China's economic growth is set to moderate slightly over the next two years but will exceed 8 percent, on the back of strong investment, rising private consumption and a more stable global economy, the Asian Development Bank said Wednesday.

In its annual economic report released at a press conference in Beijing, Paul J. Heytens, ADB Country Director for China, said China's GDP growth in 2012 is forecast at 8.5 percent, with the priority of macro policy expected to shift from fighting inflation to stabilizing growth.