China’s economy grows 11.5% in Q3
China’s economy grew by 11.5% in the third quarter and the first nine months of 2007, compared with the same periods a year earlier, the National Bureau of Statistics said Thursday.
Despite the blistering pace, the government said that a range of measures to cool the economy were taking effect. „The national economy kept steady and fast growth... the effect of macro-control policies is emerging,” bureau spokesman Li Xiaochao said at a briefing in Beijing. China is the world’s fourth-largest economy, and is expected to soon overtake Germany as number three.
Industrial output expanded by 18.5% in the first three quarters of 2007, while in the month of September alone it was up by 18.9% frim a year earlier, the bureau said. Industrial production is driven partly by booming exports, reflected in a trade surplus of 185.7 billion dollars in the first nine months of the year. The bureau confirmed that inflation in the first nine months was 4.1%, with a 6.2% spike in September. It also confirmed that fixed-asset investments expanded by 25.7% in the first nine months of 2007 from the same period a year ago.
The figure marked a slight easing from the first half of the year, when investments in fixed assets were up 25.9%. Fixed-asset investments cover mostly state-controlled enterprises’ spending on plant and equipment, a major source of growth in the world’s fourth-largest economy. The number for the first nine months had previously been released by the central bank. Retail sales in the first nine months of the year were 15.9%, with a rise of 17% in the month of September alone, the bureau said. The nine-month retail figure, a main gauge of consumer spending, had also been announced earlier by the central bank. (channelnewsasia)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.