Second quarter GDP growth at 10.1%
18 July 2008
The National Bureau of Statistics (NBS) said China's GDP expanded 10.1% in the second quarter from the same period last year, the Wall Street Journal reported. The number is down slightly from the first quarter, when China posted 10.6% GDP growth. The slowdown was expected due to a a weaker global economy, increased controls on domestic lending and disruption from the May 12 Sichuan earthquake. NBS spokesman Li Xiaochao also said government policies had successfully reduced the risk of economic overheating. Earlier, the NBS announced that first-half GDP grew 10.4% year-on-year, while inflation in June fell to 7.1%.