China Q3 GDP expands faster at 8.9%

22 October 2009 04:09  [Source: ICIS news]

SHANGHAI ICIS news)--China’s gross domestic product (GDP) expanded at an annual rate of 8.9% in the third quarter, picking up speed from a 7.9% clip in the second quarter due to the government's heavy pump-priming, official data showed on Thursday.

The country has maintained its aggressive lending policy to businesses in the third quarter with continued support from the government's two-year CNY4,000bn ($586bn) fiscal stimulus package. Meanwhile, sharp falls in China's exports have eased.

In the first three quarters of the year, the world's third largest economy grew 7.7% year on year to yuan (CNY) 21,781.7bn($3,189bn), according to the National Bureau of Statistics (NBS).

($1 = CNY6.83)

To discuss issues facing the chemical industry go to ICIS connect

By: Judith Wang
+65 6780 4359

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index