BEIJING – China declared it is over the global crisis and signaled a shift in focus to controlling inflation, sparking concern it could hamper growth and the country's contribution to a worldwide rebound.

Economic growth accelerated to 10.7 percent in the final quarter of 2009, the government said Thursday, beating most forecasts and driving the full-year expansion to 8.7 percent. But inflation also picked up, driven by a jump in food costs amid a torrent of stimulus spending and bank lending.

The strong numbers keep China on a course to replace Japan sometime later this year as the world's second-largest economy after the U.S.

Chinese leaders say the fiscal largesse will continue this year but have ordered banks to curb credit after a surge in 2009 to a record 9.5 trillion yuan ($1.39 trillion) in new loans. They worry that reckless lending has fueled overinvestment in some industries such as steel and cement and a possible bubble in stock and real estate prices, which are up sharply.

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