China's GDP growth accelerates to 8.9 pct in Q3

10:36, October 22, 2009      

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The Chinese economy expanded 8.9 percent year on year in the third quarter of this year, and 7.7 percent year on year in the first nine months, the National Bureau of Statistics (NBS) said in Beijing Thursday.

The growth rates for the first quarter and second quarter were 6.1 percent and 7.9 percent, respectively.

NBS spokesman Li Xiaochao said China's gross domestic product (GDP) totaled 21.78 trillion yuan (about 3.18 trillion U.S. dollars) in the first nine months.

A basket of policies adopted by the Chinese government to fight the global financial crisis has produced significant results and the Chinese economy is on a "consolidated" growth recovery, he said.

China is able to achieve the annual growth target of 8 percent, he added.

China's retail sales in the third quarter of this year rose 15.1 percent year on year, or 17.0 percent after deducting price factors, said the National Bureau of Statistics.

Source:Xinhua
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