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China's GDP to grow around 9% in Q3: report
Updated: 2009-07-28 15:56

China's economy showed more signs of recovery and was likely to grow around 9 percent in the third quarter, a senior economist said Tuesday.

Wang Xiaoguang, director of Macroeconomics Division of Institute of Economic Research of the National Development and Reform Commission, made the remarks in response to a latest report on China's economic growth in the third quarter.

China's economy was forecast to grow 8.9 percent in the third quarter year-on-year, according to the report released by the National School of Development under the Peking University Monday on its Web site.

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Wang Tao, an economist with UBS Securities and one of the experts on this forecast panel, said China could achieve the set goal of 8 percent economic growth for the full year.

"Credit expansion and revival in the real estate sector make us have a bright outlook for the economy," Wang said.

Chinese banks lent a record 7.37 trillion yuan ($1.08 trillion) in the first half to shore up the economy.

"China's economy was in the V-shaped recovery course. The government stimulus package could help the country achieve the 8 percent economy expansion goal, while the next priority for China is creating more jobs," said Sun Chunming, an economist with Nomura Securities.

The government unveiled a 4-trillion-yuan stimulus package last November and presented various industry stimulus plans this year to shore up the economy.

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