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Thursday, October 22, 2009
China economic growth accelerates
China has said it is on track to hit its growth target of 8% this year, after the economy grew 8.9% from a year ago in the third quarter.
The figure is up from the 7.9% rate seen in the previous quarter and is the country's fastest GDP growth since the third quarter of last year.
Separate reports show that industrial production and retail sales also accelerated in September.
The economy grew by 7.7% in the nine months to September.
Retail sales growth was 15.1% in the first three quarters of the year, the National Statistics Bureau said.
China's car market has become the world's largest, with sales up 34% to 9.66 million vehicles in the first nine months of the year.
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