Skip to main content

China growth rate on positive trend

China's economic growth rose in the fourth quarter of 2012, helping the world's most populous nation end the year with a growth rate of 7.8%, according to figures released on January 18, 2013 from the National Bureau of Statistics.

Last quarter, China's economy grew at a pace of 7.9%, slightly better than analyst expectations and breaking a pattern of seven straight quarters of decline. 

China's growth rate had been steadily falling since the fourth quarter of 2010, when economic output grew 9.8%. The slowing growth rate bottomed out in the third quarter of 2012, when China's economy only grew at 7.4%. 

Last March, Chinese Premier Wen Jiabao lowered the country's 2012 growth target from 8% to 7.5%. While such growth would be the envy of most nations, China's economy has grown at an average rate of about 10% each year for the past 30 years.

This has helped propel China to become the world's second largest economy, just behind that of the United States. China's leaders are widely expected to maintain its 7.5% growth target into 2013. 

Adding to Friday's better-than-expected growth figures, China's industrial production increased to 10.3% year-on-year versus expectations of 10.2% growth. Retail sales rose 15.2% year-on-year, also a 0.1% point increase over expectations.
Labels:

Comments

Post a Comment

Popular posts from this blog

India film industry contributes $6.2 billion in year

India's film and television industry contributes an immense $6.2 billion (Rs 28,305 crores) to the Indian economy, according to a new report released by PricewaterhouseCoopers. The report, titled Economic Contribution of the Indian Film and Television Industry, also finds that the sector has a total gross output of $20.4 billion (Rs 92,645 crores) and contributes more to the GDP of India than the advertising industry. "This report demonstrates the importance of the film and television sector to the overall growth and vitality of the Indian economy. Indians should be proud of the staggering growth that the film and television industry has achieved," said Motion Picture Association of America (MPAA) chairman Dan Glickman, who launched the report in New Delhi at the Asia Society Conference. "The film and television industry in India is one of the world's largest markets in terms of number of consumers and offers significant growth potential. Over the past fe...
1 comment
Read more

HR group says BSF kills one Bangladeshi in every four days

Taking part in an open discussion, Odhikar general secretary Atikur Rahman Khan said BSF is killing one Bangladeshi in every four days. Human rights group Odhikar and Human Rights Watch at a press conference at BRAC Centre on December 13, 2010 revealed a report on killing, abuse and torture by the Border Security Force (BSF) of India along the border. About 1,000 Bangladeshis were killed by Indian Border Security Forces (BSF) over the last decade, according to a report released by rights groups in the capital city Dhaka in Bangladesh on December 13, 2010. Apart from the killings, the report says, the Indian border guards usually threaten, abuse and beat Bangladeshi people living in frontiers villages, but they hardly get any cooperation from Bangladesh police. "It's a gross violation of human rights." The report was prepared based on statements of victims, witnesses, journalists, human rights workers, law enforcement officials and members of BSF and BDR. The re...
1 comment
Read more