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China's economy grew by 9.5 per cent in first half of year

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  • China's economy grew by 9.5 per cent in first half of year

    http://www.canada.com/national/natio...6-29aa21178456

    BEIJING (AP) - China's huge economy grew a blazing 9.5 per cent in the first half of 2005, surging ahead despite efforts to ease breakneck growth, the Chinese government said Wednesday.

    The growth rate held steady from last year, falling by just 0.2 percentage points from the same period in 2004, the National Bureau of Statistics said. Total gross domestic product between January and June reached the equivalent of $989 billion Cdn, it said. "The national economy continued to develop in the expected direction of macro-regulaton and control," the bureau said in a statement. "The overall situation is good."

    The Chinese government has set its growth target for 2005 at between eight per cent and 8.5 per cent.

    Regulators have been tightening credit and limiting lending for investments in property development and a number of booming industries, hoping to relieve strain on energy supplies and transport and achieve a more sustainable growth level.

  • #2
    bad news...so the bubble is after all building up un-controllably??
    A grain of wheat eclipsed the sun of Adam !!

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