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China GDP grows 7.1% in first half '09
2009-Jul-16 10:31:48

The gross domestic product (GDP) grew 7.1 percent from the same period a year ago to 13.99 trillion yuan (US$2.06 trillion) in the first half, as massive government spending and record lending helped the economy rebound from the worst growth in a decade.

Chinese economy expanded 7.9 percent year on year in the second quarter, said the National Bureau of Statistics (NBS).

The government's growth target for this year is 8 percent.

Many analysts expect China to be the first major country to emerge from the worst global economic slump since the 1930s.

June CPI falls 1.7%

China's consumer price index (CPI), a main gauge of inflation, declined 1.7 percent in June from a year earlier.

This marks the fifth consecutive month of decline since the index dropped 1.6 percent in February, the first fall since October 2002.

PPI falls 7.8% in June

China's producer price index (PPI), a major measurement of inflation at the wholesale level, fell 7.8 percent year on year in June. The decline compared with a 7.2-percent drop in May from the same period last year.

Urban fixed-asset investment up 33.5% in H1

China's urban fixed-asset investment in the first half year rose 33.5 percent from a year earlier. The figure is 7.2 percentage points higher than the same period of last year.

Industrial output up 10.7% in June

China's industrial output expanded 10.7  percent in June from a year earlier, faster than the 8.9 percent rate in May.

It makes the industrial output growth rise to 7 percent for the first half.

Retail sales up 15.0% in H1

China's retail sales in the first half year rose 15.0 percent from a year earlier, the National Bureau of Statistics announced Thursday.

FDI falls 17.9% in first half

China's used foreign direct investment (FDI) dropped by 17.9 percent to US$43 billion in the first half of this year from a year ago, said Yao Jian, spokesman of the Ministry of Commerce, Wednesday.

Foreign reserves top $2.13t by June

China's foreign exchange reserves topped $2.13 trillion by the end of June, up 17.84 percent year on year, the People's Bank of China said Wednesday.

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