China exceeds 8% growth by the end of Sept: official
ChinaDaily Updated: 2009-10-10 11:30
China’s economic growth rate exceeded eight percent by the end of September, Liu Mingkang,the chairman of the country’s banking regulatory commission was quoted as saying on Friday.
But Liu said the global crisis “isn’t behind us yet” and it was too soon to start talking about an exit strategy from the government’s massive stimulus measures, Dow Jones Newswires reported.
Liu was speaking at a banking conference in Hong Kong. His comments referred to Beijing’s four-trillion-yuan ($585 billion) stimulus package unveiled last year and loose monetary policy.
During the first half of 2009, the total value of China's exports narrowly passed Germany's, the world's leading exporter, according to World Trade Organization data this week. China's exports totaled $521.7 billion over the first six months of the year, a slightly larger figure than Germany's $521.6 billion.
China, the world’s number three economy, is due to announce third quarter gross domestic product data on or about October 22.
The Chinese economy expanded 7.1 percent in the first half from a year earlier, after growing 6.1 percent in the first quarter and 7.9 percent in the second.