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China's stabilizing economy arouses rebound expectations

(Xinhua)

08:07, October 24, 2012

BEIJING, Oct. 23 (Xinhua) -- China's economic performance in the first three quarters has led some experts to predict a rebound, although the speed of its recovery is still uncertain.

China's GDP grew by 7.7 percent year on year in the first three quarters, higher than the 7.5-percent annual economic growth target set for 2012.

Provincial growth data echoed the national economic growth rate, media reports stated on Tuesday.

South China's Guangdong province recorded 7.9-percent year-on-year GDP growth in the January-September period this year, up 0.7 percentage points from the first quarter.

Fixed-asset investment gained strength in Guangdong to reach 1.29 trillion yuan (204.32 billion U.S. dollars) in the last nine months, up 13.9 percent year-on-year from the 9-percent growth seen in May.

Exports also thawed in Guangdong, hitting 417.07 billion U.S. dollars, up 6.4 percent from the same period last year.

Guangdong serves as an indicator of the country's economy, as its response to economic changes is usually half a year ahead of the rest of the country, according to Cheng Jiansan, head of the Research Center for the Pearl River Delta Regional Economy affiliated with the Guangdong Statistics Bureau.

East China's Zhejiang province, as well as the southeastern province of Fujian and Tianjin municipality, have also seen significantly better economic performance in the last three quarters.

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