Wednesday, October 20, 2010

China Managing Growth Brilliantly, Yet We Expect U.S. Stocks to React Negatively as China's GDP Shows a 9-Handle in Q3; Less Reason for Any Yuan Actions ..

BEIJING (Dow Jones)--The slowdown in China's gross domestic product growth in the third quarter was due to a higher comparison base in the year-earlier period, and macroeconomic controls put in place by the government, Sheng Laiyun, spokesman for the National Bureau of Statistics, said at a news briefing Thursday.
The pace of China's economic slowdown has moderated, and the country's positive economic trend has been consolidated, he said.

China's GDP grew 9.6% from a year earlier in the third quarter, slowing from the 10.3% rise in the second quarter.
Sheng said the slowdown in industrial production growth was similarly due to a low comparison base, as well as controls put in place by Beijing on highly polluting and energy-intensive industries.

Stabilization has also been seen in China's investment, consumption, and foreign trade, Sheng said.

-Liu Li and Olivia Guo contributed to this article, Dow Jones Newswires; 8610-8400-7713;
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(END) Dow Jones Newswires
October 20, 2010 22:36 ET (02:36 GMT)
Copyright (c) 2010 Dow Jones & Company, Inc.- - 10 36 PM EDT 10-20-10

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