Speed of Chinese growth allays fears of hard landing
Published 14/07/2011 | 05:00
CHINA'S economy grew faster than expected in the second quarter, easing fears of a hard landing and strengthening the government's resolve to fight persistently high inflation.
China's statistics office said yesterday that the task of stabilising prices remained their top priority, even though a "complex and volatile" global economy posed a threat to growth.
Second-quarter GDP rose 9.5pc from a year earlier, exceeding economists' 9.4pc growth forecast. That was the slowest pace since the third quarter of 2009, when the world economy was pulling out of its worst recession in 80 years.