China picks up pace with 7.9% growth

China picks up pace with 7.9% growth
The Hindu Business Line, July 17, 2009, Page 17

China’s economy grew 7.9% in the second quarter of 2009, the government said on Thursday, in a stunning turnaround for the Asian powerhouse that offered some hope for the rest of the world. With help from $580 billion in government pump priming, the world's third-biggest economy picked up pace again after the global economic crisis dragged growth down to 6.1% in the first quarter. China's gross domestic product grew by 7.1% in the first half of 2009 compared with the same period a year earlier, according to the bureau. This put China back on track to achieve its goal of 8.0% growth for the year, despite the financial crisis hitting its crucial export sector particularly hard.