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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (1025)	10/16/2003 11:49:10 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

China reports 9.1% growth in third quarter GDP BEIJING : China's economy grew by 9.1 percent year-on-year in the third quarter, 2.4 percentage points higher than second quarter growth, the National Bureau of Statistics reported on Friday. China's gross domestic product rose 8.5 percent year-on-year to 7.91 trillion yuan for the first nine months of the year, up 0.6 percentage points from a year earlier, the bureau said. Advertisement "The economy has recovered from the lagging effect of SARS and resumed its fast growth," the NBS statement said in a statment. China's third-quarter growth rate rebounded after falling to 6.7 percent in the second quarter, the lowest level since 1992, as the impact of the Severe Acute Respiratory Syndrome virus hit the economy. China was worst hit by SARS, accounting for 349 fatalities and 5,327 infections. The outbreak, which first emerged in southern Guangdong province, had a dire impact on the economy, especially the tourism and travel sectors. In its latest report, the bureau expressed confidence that China's economic growth target of around 7.0 percent for 2003 could be reached. Meanwhile, fixed-asset investments continued their torrid pace, growing 30.5 percent year-on-year in the first nine months of the year. Retail sales grew by 8.6 percent year-on-year in the first nine months after increasing 9.7 percent in the third quarter, it said. Foreign trade during the first nine months was also robust, increasing by 36.2 percent over the same period last year, with exports during the period up 32.3 percent and imports 40.5 percent. - CNA Copyright © 2003 MCN International Pte Ltd channelnewsasia.com