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 26/10/2009
[Finance]
China Growth to Remain Fast in Fourth Quarter, Official Says
China’s growth will remain (fast) in the fourth quarter as economies recover around the world and as investor and consumer confidence returns, a National Bureau of Statistics official said today
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By Bloomberg News
China’s growth will remain “fast” in the fourth quarter as economies recover around the world and as investor and consumer confidence returns, a National Bureau of Statistics official said today.
Chinese authorities’ stimulus measures will also support a sustained acceleration in the expansion for the three months through December, according to Peng Zhilong, director general of the Department of National Accounts of National Bureau of Statistics of China.
Peng spoke in a broadcast on the bureau’s Web site after government figures last week showed China’s gross domestic product rose 8.9 percent in the third quarter from a year earlier, the most in a year. Stimulus spending and record lending growth helped the nation lead the world out of recession. The improving global economic climate is expected to help exports in China, Peng added today. China has countered an 11-month slide in exports with a $586 billion stimulus package and a record $1.27 trillion in new loans this year. Policy makers also, from July last year, halted the yuan’s gains against the dollar, providing support to exporters battered by the contraction in overseas demand. |
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