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China's economy grows 7.1% in first half 2009
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10:13, July 16, 2009

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China's economic recovery, are we there yet?- special

China's June CPI falls 1.7%

China urban fixed-asset investment up 33.5% in H1

China's retail sales up 15.0% in H1

China's gross domestic product (GDP) grew 7.1 percent over the first half of 2009 from the same period a year ago to 13.99 trillion yuan (2.06 trillion U.S. dollars) , said the National Bureau of Statistics (NBS) on July 16. The growth rate is 1 percentage point higher than that in the first quarter.

Chinese economy expanded 7.9 percent year on year in the second quarter as massive pump-priming and record lending pushed for a rebound from the worst growth in a decade.

The world's third largest economy tumbled to 6.1 percent in the first quarter as exports shrank to a decade low.

The first industry achieved added value of 1202.5 billion yuan, up by 3.8 percent year on year. The second industry recorded added value of 7007 billion yuan, an increase of 6.6 percent year on year. And the tertiary industry posted added value of 5776.7 billion yuan, up by 8.3 percent.

Li Xiaochao, spokesperson of the NBS who announced the figures at the press conference today, said that China's economy was still facing difficulties and challenges. The rebound is not stable and the foundation for the rebound is not sound enough.

He added that the economic rebound is not balanced enough while there would be uncertainties and unstable factors in the process of rebound of China's economy.

People's Daily Online/Xinhua



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