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January 21, 2010    

Chinese economic growth exceeds Government expectations

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by Kay Murchie

China‘s economy, which is currently the world’s third largest, saw double digit growth in the fourth quarter of 2009 and the economy is now on target to surpass Japan and become the world’s no.2 economy.

The economy expanded by 10.7% in the final quarter of 2009 compared with the same period a year earlier.

Meanwhile, the economy grew by 8.7% in the 2009 year - which exceeded the Government’s initial expectations.

At a press conference, Ma Jiantang, commissioner of the National Bureau of Statistics, said: “China has become the first, on the whole, to achieve recovery and stabilisation in its economy.”

Many analysts have described China’s recovery as “impressive” and it was recently announced that China had overtaken Germany as the world’s biggest exporter.

Furthermore, car sales in China surpassed the US in 2009 and, as a result, became the world’s largest car and van market with 13.6 million units sold.

However, there are concerns of rising inflation with consumer prices up by 1.9% in December from a year ago.

As a result, action will be taken by the Chinese authorities to prevent the economy from overheating.

China is likely to become the world’s largest economy in 2030.

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1 Comment »

  1. China econimic goes well during cirsis, the main reason is that chinese Gov extend funds and budget, especially more than 4,000 billion FDI into pubilic industries. however,

    Comment by Eric — January 22, 2010 @ 2:07 am

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