Arab Today, arab today china\s economy shows pickup amid leadership transition
Last Updated : GMT 00:37:18
Arab Today, arab today
Arab Today, arab today

China\'s economy shows pick-up amid leadership transition

Arab Today, arab today

Arab Today, arab today China\'s economy shows pick-up amid leadership transition

Beijing - AFP

China has released a slew of figures showing growth of the world\'s number-two economy gaining pace, as the Communist Party meets to anoint new leaders tasked with sustaining the country\'s economic miracle. The statistics bureau said output at the millions of factories, workshops and mines rose 9.6 percent year on year in October, from 9.2 percent in September, indicating the country is emerging from a slumber that has also dragged on the global economy. The news came as other figures released Friday by the bureau -- including retail sales, fixed asset investment, and inflation -- also showed an improvement. The data add to signs that China\'s economy is rebounding after growth slowed for seven straight quarters, hitting 7.4 percent in the three months through September, its weakest performance in more than three years. \"What a lovely dataset to welcome in China\'s new set of leaders,\" IHS Global Insight economists Ren Xianfang and Alistair Thornton wrote in in a research note Friday after the data release. \"The stabilisation looks to be on firmer ground.\" Retail sales, the main measure of consumer spending, rose 14.5 percent year on year in October, from 14.2 percent in September, while fixed-asset investment, a key gauge of infrastructure spending, rose 20.7 percent in the first 10 months of 2012, from 20.5 percent in January-September. China\'s consumer price index, the main measure of inflation, slipped to a near three-year-low 1.7 percent in October, the sixth month out of the past seven it has slowed, giving lawmakers a little more room to loosen monetary policy. Ren and Thornton partially attributed the recent encouraging performance to aggressive central bank monetary support via net liquidity injections to bolster the economy ahead of the country\'s once-in-a-decade leadership transition, which began Thursday. \"The government could not risk a downside shock this month, and it appears their strategy to bolster growth has gained traction over the past couple of months,\" said Ren and Thornton. Chinese President Hu Jintao in a speech on Thursday to open the pivotal Communist Party Congress called for economic reform to boost domestic consumption in a bid to create a new growth model for the country\'s economy. But he also insisted on the primacy of the party-led state sector, which has traditionally been and continues to be a major player in the country\'s economy despite decades of increasing openness. Hu signalled continued state involvement in the economy was needed, especially in sectors that comprise the lifeline of the economy and are vital to national security. He told delegates at the congress in Beijing that therefore the government\'s role and influence in the economy should be increased. While the October figures will give Beijing room to loosen monetary policy they have actually reduced the urgency for such a move, with analysts saying they will likely provide impetus to stimulate consumer spending. \"The data provided fresh evidence of an economic recovery, so the government will likely continue with its current fiscal and monetary policies and there\'s no need to step up efforts,\" Liao Qun, a Hong Kong-based economist at Citic Bank International, told AFP. Authorities have taken steps to boost growth by cutting interest rates twice in less than a month earlier this year while they have also reduced the amount of funds banks must keep in reserve three times since December to encourage lending. Liao said that it was unlikely authorities would make further such cuts but would use other tools to support the economy. \"The government will continue to implement its investment plan for infrastructure projects and maintain its subsidy programme to boost consumption,\" he said.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china\s economy shows pickup amid leadership transition Arab Today, arab today china\s economy shows pickup amid leadership transition

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims

GMT 14:57 2017 Monday ,20 February

A giant initial public offering on track

GMT 14:50 2017 Monday ,20 February

Energy Market Research

GMT 09:38 2017 Monday ,20 February

Japan returns to trade deficit in January

GMT 07:16 2017 Monday ,20 February

Global arms trade highest since Cold War

GMT 06:10 2017 Monday ,20 February

Tourism shows signs of recovery in Egypt

GMT 05:45 2017 Monday ,20 February

Brexit U-turn ruled out by many in EU
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today 57 monkeys carrying 'invasive' genes

GMT 16:00 2017 Tuesday ,21 February

57 monkeys carrying 'invasive' genes
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday