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China’s economy stabilizing- statistics bureau
August 26, 2013, 4:37 am

China is on track to meet the government's 2013 growth target of 7.5 percent, Sheng said [AP]

China is on track to meet the government’s 2013 growth target of 7.5 percent, Sheng said [AP]

The Chinese economy is showing clear signs of stabilisation, aided by government policy and some improvement in global demand, the state statistics bureau said on Monday.

“The economy is showing some positive changes. Signs of growth stabilisation are becoming more obvious,” Sheng Laiyun, the NBS’s spokesman said.

China is on track to meet the government’s growth target of 7.5 percent this year, Sheng said.

“We are confident that the economy is sustaining the positive momentum in the second half and confident of meeting the economic growth target,” Sheng added.

China’s manufacturing industry showed increasing signs of stabilization in August as new orders rebounded, according to the HSBC Flash China Manufacturing Purchasing Managers’ Index (PMI) released last week.

The HSBC Flash PMI rose to a four-month high of 50.1, from 47. 7 in July.

The NBS on Monday in a media briefing organized by the Foreign Ministry said government debt is also under control.

“The central government is attaching great importance to developments in the debt issue,” Sheng said.

The country’s growth has eased to 7.5 per cent in the second quarter from 7.7 per cent in the first three months of the year.

The final HSBC PMI for August is due to be published on 2nd September.


Source: Agencies

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