Chi­na’s eco­no­my shows signs of sta­bi­li­zing, but risks remain

Times of Suriname - - ENGELS -

BEIJING - Chi­na’s eco­no­my is showing mo­re signs of sta­bi­li­zing with im­pro­ved growth mo­men­tum in Oc­to­ber, alt­hough the foun­da­ti­ons for a sustai­ned re­co­ve­ry are still not so­lid en­ough.

Of­fi­ci­al fi­gu­res re­lea­sed yes­ter­day showed Chi­na on track to meet the govern­ment’s tar­get of 6.5 to 7 per­cent growth for the year. The eco­no­my ex­pand­ed 6.9 per­cent in 2015, the slo­west pa­ce in a quar­ter of a cen­tu­ry. “Chi­na’s eco­no­my grew stea­di­ly last month with qua­li­ty im­pro­ving and mo­re po­si­ti­ve fac­tors pop­ping up,” said Mao Shen­gy­ong, spo­kesper­son with the Na­ti­o­nal Bu­reau of Sta­tis­tics. “In­du­stri­al pro­duc­ti­on, do­mestic de­mand, the job mar­ket and en­ter­pri­se pro­fits we­re all sta­ble.” In­du­stri­al out­put ex­pand­ed 6.1 per­cent in Oc­to­ber, lar­ge­ly due to strong per­for­man­ce in the high-tech and equip­ment ma­nu­fac­tu­ring sec­tors. This marks the eighth con­se­cu­ti­ve month that in­du­stri­al out­put has ex­cee­ded 6 per­cent. Fixed-as­set in­vest­ment ro­se 8.3 per­cent in Ja­nu­a­ry-Oc­to­ber from the sa­me pe­ri­od a year ear­lier, hig­her than mar­ket ex­pecta­ti­ons of 8.2 per­cent. Growth of pri­va­te in­vest­ment quic­ke­ned to 2.9 per­cent from 2.5 per­cent in Ja­nu­a­ry-Sep­tem­ber, pic­king up from a re­cord low of 2.1 per­cent in the first eight months. Pri­va­te in­vest­ment ac­counts for about 60 per­cent of in­vest­ment in Chi­na. The jo­bless ra­te stay­ed un­der 5 per­cent in big ci­ties in Oc­to­ber. So­me 10.67 mil­li­on new jobs we­re cre­a­ted du­ring the first three quar­ters, mee­ting the an­nu­al tar­get three­m­onths ear­ly. Pro­fits of lar­ge bu­si­ne­ses ro­se 8.4 per­cent year on year to 4.64 tril­li­on yu­an (around 682 bil­li­on U.S. dol­lars) du­ring the first three quar­ters, unchan­ged from the first eight months.


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