{"id":10992,"date":"2013-10-18T03:16:52","date_gmt":"2013-10-18T03:16:52","guid":{"rendered":"https:\/\/new.igihe.com\/china-s-economic-growth-speeds-up\/"},"modified":"2013-10-18T03:16:33","modified_gmt":"2013-10-18T03:16:33","slug":"china-s-economic-growth-speeds-up","status":"publish","type":"post","link":"https:\/\/new.igihe.com\/english\/china-s-economic-growth-speeds-up\/","title":{"rendered":"China’s Economic Growth Speeds Up"},"content":{"rendered":"

China’s economic growth picked up pace in the July-to-September period, the first rise in three quarters.<\/p>\n

The world’s second-biggest economy grew 7.8% from a year earlier, up from 7.5% expansion in the previous quarter.<\/p>\n

The official figures also showed growth in industrial output, retail sales and fixed asset investment.<\/p>\n

After years of blistering growth, China has seen its pace of expansion slow recently and there have been fears that growth may slow further.<\/p>\n

China has set a growth target of 7.5% for the year. Analysts said the latest numbers indicated that it was likely that Beijing would meet this.<\/p>\n

“This is an indication that China’s economic growth is holding up in a range which is within the comfort zone of both the Chinese policymakers as well as global watchers,” said Song Seng Wun, a senior economist with CIMB Research .<\/p>\n

{{‘Keep it going’}}<\/p>\n

Over the past few decades China has relied heavily on its exports and manufacturing sectors as well as government-led infrastructure spending to help boost growth.<\/p>\n

However, a slowdown in key markets such as the US and Europe has hurt demand for its exports.<\/p>\n

As a result, it has been trying to spur domestic demand to offset the decline in foreign sales and also to rebalance its growth.<\/p>\n

Earlier this year, it unveiled fresh measures to help boost the economy.<\/p>\n

From 1 August, China has suspend value-added tax (VAT) and turnover tax for small businesses with monthly sales of less than 20,000 yuan ($3,257; \u00a32,125).<\/p>\n

The cabinet said the move would benefit more than six million small companies and boost employment and income for millions of people.<\/p>\n

Policymakers said they would also implement measures to simplify customs clearance procedures, cut operational fees and facilitate the exports of small and medium-sized private enterprises.<\/p>\n

The cabinet also announced plans to completely open China’s railway construction market to private investors to develop the sector further.<\/p>\n

It said it would set up a railway development fund, with the initial money coming from the government.<\/p>\n

Analysts said the moves were starting to have an impact on the growth numbers.<\/p>\n

\"\"<\/figure>\n

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China’s economic growth picked up pace in the July-to-September period, the first rise in three quarters. The world’s second-biggest economy grew 7.8% from a year earlier, up from 7.5% expansion in the previous quarter. The official figures also showed growth in industrial output, retail sales and fixed asset investment. After years of blistering growth, China […]<\/p>\n","protected":false},"author":1,"featured_media":2000048850,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[101],"byline":[170],"hashtag":[],"class_list":["post-10992","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-internationl","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":{"id":2000048850,"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton10992.jpg","alt":"","caption":"","mime_type":"image\/jpeg","width":0,"height":0,"sizes":{"thumbnail":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton10992.jpg","width":1,"height":1},"medium":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton10992.jpg","width":1,"height":1},"medium_large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton10992.jpg","width":1,"height":1},"large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton10992.jpg","width":1,"height":1},"full":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton10992.jpg","width":0,"height":0}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/10992","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=10992"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/10992\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000048850"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=10992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=10992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=10992"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=10992"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=10992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}