China’s Economy Growing at High Rate
Elyse Andrews, Cabot Headline News
October 19, 2009
A top economic official said that China’s economy will surpass the 2009 target growth rate of 8% after expanding more than 7% in the first nine months of the year, according to the Associated Press.
China’s third quarter economic data will be released Thursday, but in a briefing in Beijing on Monda
y, a top economic planner said that the growth rate for January-September would be above 7%, the AP reported.
China experienced improving trade, housing sales, manufacturing and car sales in addition to positive retail sales and industrial production, which are helping offset the blow from falling exports to the country’s economy, according to the AP.
The positive news pushed China’s Shanghai Composite Index to a one-month high on Monday, the AP reported.
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