Arab Today, arab today china\s economy shows pickup amid leadership transition
Last Updated : GMT 09:09:51
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.  

arabstoday
arabstoday

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

 



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 Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today What's the reason and what you can do

GMT 05:44 2017 Sunday ,22 October

What's the reason and what you can do
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Prayers turn to nightmare

GMT 06:14 2017 Sunday ,22 October

Prayers turn to nightmare
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 10:18 2017 Saturday ,21 October

How to do open-heart surgery

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
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