China Says Economy Grew 11.5%
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Chinaâs sizzling economy grew 11.5 percent in the third quarter, surging ahead despite official efforts to cool the countryâs boom.
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China revised its 2006 economic growth data to a 12-year high of 11.1 percent, from 10.7 percent.
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China has revised upward its gross domestic product (GDP) growth to 9.69 per cent during the first half of this year due to higher growth in service industries, the state media reported on Monday.
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China&#39;s economy was expected to grow by about nine percent this year, a senior official with the State Development and Reform Commission was quoted as saying by the Beijing News on Saturday.
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China has decided to raise its benchmark one-year lending rate to 5.58 percent from 5.31 percent with effect, the first such move in nearly a decade, the central bank said on its website.
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THE ASIAN Development Bank (ADB) said it has raised its GDP growth forecast for China to 8.8 percent from 8.3 percent, but slightly scaled down next year&#39;s projection for the world&#39;s fastest-growing economy to 8.0 percent from 8.2 percent.
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China's economy expanded 9.5 percent in 2004, the government said on Tuesday, issuing strong data that suggested Beijing will have to keep a tight grip on credit and investment this year.
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The central bank says China's economy should grow by 10.5 percent this year, state media reported Sunday, even stronger than the 10 percent predicted last week by the National Bureau of Statistics.
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TOKYO (CBS.MW) - China expects economic growth to reach at least 9 percent in 2004, according to a published report. Free! Sign up here to receive our Before the Bell e-Newsletter!
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The Asian Development Bank on Wednesday raised its forecast for China's economic growth this year to 10.4 percent, citing surging investment and exports, and warned of possible dangers to long-term stability.
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China's economic growth may ease slightly this year to 10.5 percent from the estimated 11.5 percent rate of expansion in 2007, a researcher at a state think-tank said on Friday, as the government cooling steps take effect.
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China has decided to raise its benchmark one-year lending rate to 5.58 percent from 5.31 percent with effect, the first such move in nearly a decade, the central bank said.
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China&#39;s economy expanded at a roaring 11.9 percent in the second quarter, official data showed Thursday, prompting warnings that the government will clamp down hard to stop serious overheating.
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China's industrial output for August rose 15.9 percent year-on-year after a 15.5 percent gain in July, with demand for coal, steel and natural gas driving growth, official data showed.
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China's booming economy has fuelled a 40% jump in crude oil imports so far this year, official figures show.
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China released figures suggesting the economy is not decelerating as much as feared, easing concerns the government might have stepped too hard on the brakes.
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China&#39;s key inflation indicator remained at 5.3 percent in August, the government reported Monday, in the latest release of data suggesting economic planners might take further action to slow the booming economy.