| China's GDP Growth Accelerates to 8.9% in Q3 |
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| Monday,October 26,2009 Posted: 21:38 BJT(38 GMT) |
| From:XINHUANET Article type:Translated |
China's economic growth accelerated to 8.9 percent year on year in the third quarter, and 7.7 percent year on year in the first nine months, the National Bureau of Statistics (NBS) said on October 22. China's gross domestic product (GDP) totaled 21.78 trillion yuan (3.18 trillion U.S. dollars) in the first nine months.
Industrial output rose 12.4 percent in the third quarter from a year ago, and was up 8.7 percent year on year in the first nine months.
The per-capita disposable income of urban residents grew by price-adjusted 10.5 percent in the first three quarters from a year earlier. Income of rural dwellers was up by 9.2 percent.
Retail sales in the first nine months rose 15.1 percent year on year to 8.97 trillion yuan (1.31 trillion U.S. dollars). Fixed-assets investment rose 33.4 percent in the same period.
NBS spokesman Li Xiaochao told a press conference that Policies adopted by the Chinese government to fight the global financial crisis had produced significant results and the Chinese economic growth was on a "consolidated" recovery. China would be able to achieve the full-year growth target of 8 percent, which the government believes is essential to generate enough jobs.
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