{"id":27044,"date":"2012-10-18T14:38:20","date_gmt":"2012-10-18T11:38:20","guid":{"rendered":"http:\/\/www.nationalturk.com\/en\/?p=27044"},"modified":"2012-10-18T14:38:49","modified_gmt":"2012-10-18T11:38:49","slug":"china-gdp-chinese-economy-get-down-asia-news-27044","status":"publish","type":"post","link":"https:\/\/www.nationalturk.com\/en\/china-gdp-chinese-economy-get-down-asia-news-27044\/","title":{"rendered":"China GDP: Chinese Economy get down \/ Asia News"},"content":{"rendered":"

\"\"<\/a><\/h1>\n

China’s economy sees its deepest slowdown in growth since the global financial crisis – but shares react positively.<\/h1>\n

The country’s economy grew 7.4%\u00a0 between July and September, according to official statistics, compared with 7.6% growth in the previous quarter.<\/p>\n

“This is within expectations, the economy is showing signs of stabilising and that is good news,” Hong Kong-based Credit Suisse economist Dong Tao said.<\/p>\n

“We think that with rebounding property markets, stabilising export orders, resuming consumption, we probably have seen the bottom of the economy.<\/p>\n

“The economy can bounce back quickly.”<\/p>\n

The figures reassured investors, with Asian stock markets rising overnight.<\/p>\n

Japan’s Nikkei hit a three-week high, rising 2%, and Hong Kong’s Hang Seng was up 0.6%.<\/p>\n

In London, the FTSE rose 0.2% and Germany Dax increased by 0.14% in early trading.<\/p>\n

\"\"<\/a><\/p>\n

But while these GDP figures would be cause for celebration in recession-hit economies like the UK, it marks the seventh consecutive quarter of slowing growth in China, as its main export markets, Europe and the US, continue to battle economic problems.<\/p>\n

Beijing has attempted to boost growth this year by cutting interest rates twice in quick succession and slashing banks’ capital requirements to encourage lending, but with little success.<\/p>\n

\"Unemployed<\/a>
Unemployed Chinese look for work at an employment agency in the city of Xiamen in Fujian Province. In once-thriving Chinese manufacturing regions, the fate of migrant workers looks likely to lead to more public unrest.<\/figcaption><\/figure>\n

It has also shifted its focus to quality growth, rather than quantity, and lowered its target to 7.5% growth in 2012, compared with the 8% target of recent years.<\/p>\n

Other data released alongside GDP showed industrial output grew by 9.2% in September compared with the same month last year, and retail sales were up 14.2%.<\/p>\n\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

China’s economy sees its deepest slowdown in growth since the global financial crisis – but shares react positively.<\/p>\n","protected":false},"author":702,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[80,63,51,1,118,14],"tags":[36306,2381,36304,36301,36305,36310,36309,36302,36303,36308,2854,36307],"class_list":["post-27044","post","type-post","status-publish","format-standard","hentry","category-breaking-news","category-daily","category-economy","category-general","category-hot","category-world","tag-asia-economy","tag-china","tag-china-economy-deepest-slowdown","tag-china-gdp","tag-china-gdp-down","tag-china-slowdown","tag-china-unemployed","tag-chinese-economy","tag-chinese-economy-get-down","tag-germany-dax","tag-global-financial-crisis","tag-japan-nikkei"],"_links":{"self":[{"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/posts\/27044","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/users\/702"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/comments?post=27044"}],"version-history":[{"count":0,"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/posts\/27044\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/media?parent=27044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/categories?post=27044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/tags?post=27044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}