China's economy recovers in October (2)

Meanwhile, China's industrial production gained 9.6 percent annually in October, accelerating from the pace of 9.2 percent a month earlier. Retail sales increased 14.5 percent, up 0.3 percentage point from that in September thanks to the longer National Day holiday.

Fixed-asset investment reported its growth expanded to 20.7 percent in the first ten months from 20.5 percent in the first three quarter, after the government quickened the process of approving big projects.

Zhou Hao, an economist at Australia & New Zealand Banking Group Ltd, said the moderating inflation means there is big enough room for the central bank to keep the overall policies relaxed.

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