China registers 7.9 percent GDP growth in second quarter
The Chinese economy expanded 7.9
percent year on year in the second quarter, as massive pump-priming and
record lending pushed for a rebound from the worst growth in a decade,
according to local media.
The Chinese economy expanded 7.9
percent year on year in the second quarter, as massive pump-priming and
record lending pushed for a rebound from the worst growth in a decade,
according to local media.
The figure is within the market expectation between 7.5 percent to eight percent.
The gross domestic product (GDP) grew 7.1 percent from the same period a year ago to 13.99 trillion yuan (2.06 trillion USD) in the first half, Xinhua news agency reported, citing Li Xiaochao, spokesperson with the National Bureau of Statistics (NBS) at a press conference on July 16.
The world's third largest economy declined to 6.1 percent in the first quarter as exports shrank to a decade low.
The country's consumer inflation fell 1.7 percent year on year in June, representing the worst contraction since October 2002. The inflation index at wholesale level dropped 7.8 percent, the lowest in a decade.
However, bank lending hit a record 7.37 trillion yuan in the first half, as the government looked to a moderately easy monetary policy to support economic recovery.
The government has set a full-year GDP growth target at eight percent.
Earlier this month, the International Monetary Fund raised its forecast of China 's 2009 growth by one percentage point to 7.5 percent. The World Bank also adjusted its figure from 6.5 percent to 7.2 percent./.
The figure is within the market expectation between 7.5 percent to eight percent.
The gross domestic product (GDP) grew 7.1 percent from the same period a year ago to 13.99 trillion yuan (2.06 trillion USD) in the first half, Xinhua news agency reported, citing Li Xiaochao, spokesperson with the National Bureau of Statistics (NBS) at a press conference on July 16.
The world's third largest economy declined to 6.1 percent in the first quarter as exports shrank to a decade low.
The country's consumer inflation fell 1.7 percent year on year in June, representing the worst contraction since October 2002. The inflation index at wholesale level dropped 7.8 percent, the lowest in a decade.
However, bank lending hit a record 7.37 trillion yuan in the first half, as the government looked to a moderately easy monetary policy to support economic recovery.
The government has set a full-year GDP growth target at eight percent.
Earlier this month, the International Monetary Fund raised its forecast of China 's 2009 growth by one percentage point to 7.5 percent. The World Bank also adjusted its figure from 6.5 percent to 7.2 percent./.
You should also see
Airports to offer 9,000 domestic flights during upcoming holidays
Vietnamese airlines are expected to operate 9,000 flights on domestic routes to meet the travel demand during the upcoming National Reunification Day (April 30) and May Day (May 1) holidays, according to the Airports Corporation of Vietnam (ACV).
See more
World
Indonesia's first thermal power plant stops operating
Indonesia's Ministry of Maritime Affairs and Fisheries (MMAF) has held a press conference to inform about the country’s progress in the early decommissioning of the Cirebon-1 thermal power plant.
World
Thai central bank intervenes to stabilise currency
The Bank of Thailand (BoT) said it has intervened in currency markets at times to ease any excessive moves in the THB, adding that the current policy rate is robust and conducive to economic recovery, reported the Bangkok Post.
World
Vietnam appeals for maximum self-restraint, end to hostilities in Middle East
A representative of Vietnam appealed to all the parties concerned to exercise maximum self-restraint and to end hostilities, while addressing a United Nations Security Council (UNSC) open debate on the Middle East and Palestine situation on March 25.
World
Indonesia’s coffee exports surpass imports
Indonesia’s coffee exports have surpassed imports for 47 consecutive months since May 2020, the Central Statistics Agency (BPS) has reported.
World
Thailand expects wave of tourists during Golden Week
The Tourism Authority of Thailand (TAT) estimates that about 996,000 foreign tourists will visit the Southeast Asian country between April 26 and May 5, known as the Golden Week holidays in Japan, during which Chinese tourists also prefer to travel overseas.
