The Asian giant records further impressive growth

Thursday, 29 October 2009 17:31

While many economies - perhaps primarily the UK – battle in an attempt to emerge from recession, China has once again recorded highly impressive economic growth.

The Asian giant reported third quarter GDP growth of 8.9%. This is widely expected to grow by over 10% for the fourth quarter of 2009. The Chinese economy is helping to lift the world out of recession and back to prosperity. Equity markets have had an amazing run in 2009, but indications are that there will be no change during 2010.

China’s impressive third quarter is expected to be surpassed during 2010, when the China Centre for Economic Research at Peking University anticipates China’s GDP growing at 10.6% in the year’s fourth quarter. This type of economic performance is striking at the best of times. In light of the current global downturn the figures are all the more impressive. As the principal engine of growth for the global economy, China’s economic health has never been so vital. The country appears set to kick start the world economy for the foreseeable future.