Chinese economy grows 7.9%
23/07/2001
Official statistics released last week show that the Chinese economy expanded by 7.9% in the first half of the year compared with the same period in 2000, with Gross Domestic Product (GDP) increasing by 7.9% to Y4,294 billion yuan ($418 billion).
Though the figures were in line with official predictions, they nevertheless reflect the impact the global economic slowdown on Asia’s largest economy and the cooling of its exports. The Chinese government announced earlier this year that first-quarter growth came in at 8.1%.
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