SOUND GROWTH IN CHINA?

CHINA ASSURES GROWTH STILL STEADY DESPITE Q3 WOBBLE

Esther Thomas

International Business Times, October 19, 2011

Analysts and federal authorities remained optimistic on China's fiscal strength even as the world's second-largest economy slowed down in the third quarter.

According to the National Bureau of Statistics on Tuesday, the latest period was the slowest for China's economy since early 2009. China's GDP growth decelerated to 9.1 per cent in the third quarter this year from 9.5 per cent in the second quarter and 9.7 per cent in the first quarter.

However, figures released last week showed industrial output and retail sales accelerated faster in September. Consumer prices reached 6.1 per cent, surpassing a 4 percent target.

"The latest data won't trigger any sudden change in monetary or fiscal policy, but looking ahead the overall direction is likely to be easing," economist Yao Wei told Bloomberg News. "Consumption has held up quite well."

Even Chinese central bank adviser Xia Bin believed the nation's growth "remains sound" and had developed according to the "prudent" monetary policy earlier instituted by government.

"I don't believe China will launch another round of major economic stimulus," Xia said in Bloomberg.

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