Close
Log in
Please enter your login details

Skip to main content

Breaking News
  • German Chancellor Angela Merkel says she is not acutely worried that airspace is being violated – Reuters
  • Economic growth in the US expanded more than expected in the third quarter: + 3.5% – Reuters

China’s economy grew faster than expected between April and June.

The latest official figures have eased fears that the world’s fastest-growing major economy was heading for a hard landing on Beijing’s efforts to fight persistently high inflation.

The Chinese government has raised interest rates and clamped down on bank lending to fight inflation, which hit a three-year high in June.

Gross domestic product rose 9.5 percent in the second-quarter compared with the same period last year helped by solid domestic consumption and investment.

Government officials were pleased – Sheng Laiyun of China’s statistics bureau said: “If you look at the recent situation and prospects for the near future, there’s still a strong driving force behind China’s economy. The possibility of the economy dropping sharply is very low.”

He added: “China has done a great job to maintain fast economic growth when the global situation is complex and volatile.”

Europe’s sovereign debt troubles and a slowdown in the US economy have hit export orders but the latest figures suggested domestic demand remains robust.

Copyright © 2014 euronews

More about: