Quick view: China GDP growth in 2013 to exceed 7.5%: Cen bank

Oct 12 2013, 03:18 IST
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SummaryChina’s economic growth should exceed 7.5% this year, deputy central bank governor Yi Gang

China’s economic growth should exceed 7.5% this year, deputy central bank governor Yi Gang was quoted by Xinhua as saying, the latest expression of confidence from Beijing that the world's No. 2 economy is steadying. Yi was quoted as saying on the sidelines of the IMF meeting that growth could hit 7.6%, and that the government had the nation’s shadow banking system and its debt problems under control. “I think for this year we’re going to have certainly above 7.5% growth rate,” Yi was reported to have said in Washington. “Maybe 7.6% (or) something like that.” After cooling in 12 of the past 14 quarters, China’s economy is finally showing signs of stabilisation, helped in part by government measures to shore up growth, including lowering taxes for small firms and quickening infrastructure spending.

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