CHINA’S GROWTH

CHINA'S ECONOMIC GROWTH SLOWS IN THE THIRD QUARTER

Its economy still grew 9.6% from a year earlier, government figures show. China remains well poised to achieve its stated annual growth target of 8%.

David Pierson

Los Angeles Times, October 21, 2010

The pace of China's economic expansion slowed modestly in the third quarter but still grew a robust 9.6% from a year earlier, official figures released Thursday showed.

The rate was in line with economists' expectations as the Chinese government is focused on reining in runaway growth that could precipitate a crash.

"The national economy kept moving toward the expected direction of macroeconomic control," the National Bureau of Statistics said in a statement.

The drop from the second quarter's year-on-year growth of 10.3% was due partly to new regulations in the residential property market and the withdrawing of stimulus, analysts say.

Separate data released Thursday showed China's consumer price index rising to 3.6% in September from 3.5% in August.

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