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 euronewsMore about:
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2Now is ‘right time’ for Catalonia independence vote, says Mas | euronews, world news
- 3Vatican rocked by another paedophilia scandal | euronews, world news
- 4Two container ships collide on Egypt’s Suez Canal | euronews, no comment
- 5British Muslims’ message to ISIL: Not in my name! | euronews, world news
- 6Sweden becomes first European nation to recognise Palestine | euronews, world news
- 7Algeria: ISIL offshoot releases video threatening French hostage Hervé Gourdel | euronews, world news
- 8Emma Watson threatened with naked photos leak after UN equality speech | euronews, world news
- 9How nasheeds became the soundtrack of jihad | euronews, world news
- 10International tv news | euronews: European and International tv news bulletin
- 11Iceland volcano ‘pollutes Paris’ | euronews, world news
- 12Ebola: Six new suspected cases in Spain | euronews, world news
- 13European Union News | euronews: latest breaking news and headlines about European Union
- 14Learning through “serious games” | euronews, learning world
- 15euronews speaks to Ban Ki-moon ahead of key UN and climate change talks | euronews, the global conversation
- 16Iraq: Baghdad rally held against US ‘occupiers’ | euronews, world news
- 17Mike Tyson: ‘You learn humbleness when you get older in life’ | euronews, the global conversation
- 18US delivers technical aid to Ukraine but warns over security | euronews, world news
- 19euronews apps : iPhone, iPad, Android, Windows Phone 8, Windows 8, Nokia S40, Nokia Asha, Smart TV and Google Glass
- 20Global warming to ‘cause 250,000 extra deaths a year’ | euronews, world news
Wires > Business
- 05:48 CET Asian shares shine on U.S. tech results, ECB hopes
- 04:12 CET South Korean firms, unfazed by slowing economy, step up China…
- 04:11 CET U.S. regulator expands warning over Takata air bags, more lawsuits…
- 04:06 CET Yahoo CEO Marissa Mayer parries activist investor attacks
- 02:58 CET Quiet critic of Kuroda’s ‘monetary shamanism’ turns up the volume
- 02:33 CET Quiet critic of Kuroda’s ‘monetary shamanism’ turns up the volume
- 02:29 CET Asian shares bask in glow of U.S. tech earnings
- 02:15 CET Senior U.S. Treasury official to visit Japan, meet BOJ governor