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China's economic growth slowly stabilizing: official

(Xinhua)

08:05, August 30, 2012

BEIJING, Aug. 29 (Xinhua) -- A senior official said Wednesday that China's economic growth is stabilizing at a slow pace on the back of the government's macro-control policies and measures.

Zhang Ping, minister in charge of the National Development and Reform Commission, said in a briefing to national lawmakers at a bimonthly session of the National People's Congress (NPC) Standing Committee that the government will continue an active financial policy and prudent monetary policy for the rest of the year.

"The current situation shows that the government's policies and measures have been effective. Economic growth is stabilizing at a slow pace," Zhang said, commenting on the performance of China's economy in the first half of the year.

China's gross domestic product (GDP) for the first half saw a 7.8-percent year-on-year increase, with a growth rate of 8.1 percent in the first quarter and 7.6 percent in the second quarter.


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