China’s GDP grows nearly 9 percent last quarter

China’s GDP increased 8.9 percent for the third quarter, moving closer toward the goal of 8 percent growth for the year.

Growth for the first three quarters of the year is up 7.7 percent; economists says 8 percent growth is needed to keep current employment levels.
The growth was in line with analyst expectations, although there are rising fears that the government’s massive stimulus package may be inflating stock and property prices. The Chinese government spent $586 billion to bolster its economy.
„We have obtained obvious achievements and further strengthened the steady upturn trend of the economy. The overall situation of national economy is good,“ said Li Xiaochao, of the National Bureau of Statistics.

Finance