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| China's economic growth picks up speed in third quarter | China's economic growth picks up speed in third quarter |
| (35 minutes later) | |
| China's economic growth picked up pace in the July-to-September period - the first rise in three quarters. | China's economic growth picked up pace in the July-to-September period - the first rise in three quarters. |
| The world's second-biggest economy grew 7.8%, from a year earlier, up from 7.5% expansion in the previous quarter. | The world's second-biggest economy grew 7.8%, from a year earlier, up from 7.5% expansion in the previous quarter. |
| Other data released also showed a growth in industrial output, retail sales and fixed asset investment. | Other data released also showed a growth in industrial output, retail sales and fixed asset investment. |
| After years of blistering growth, China has seen its pace of expansion slow recently and there have been fears that growth may slow further. | After years of blistering growth, China has seen its pace of expansion slow recently and there have been fears that growth may slow further. |
| China has set a growth target of 7.5% for the year. Analysts said the latest numbers indicated that it was likely that Beijing would meet this. | |
| "This is an indication that China's economic growth is holding up in a range which is within the comfort zone of both the Chinese policymakers as well as global watchers," said Song Seng Wun, a senior economist with CIMB Research . | "This is an indication that China's economic growth is holding up in a range which is within the comfort zone of both the Chinese policymakers as well as global watchers," said Song Seng Wun, a senior economist with CIMB Research . |
| 'Keep it going' | |
| Over the past few decades China has relied heavily on its exports and manufacturing sectors as well as government-led infrastructure spending to help boost growth. | |
| However, a slowdown in key markets such as the US and Europe has hurt demand for its exports. | |
| As a result, it has been trying to spur domestic demand to offset the decline in foreign sales and also to rebalance its growth. | |
| Earlier this year, it unveiled fresh measures to help boost the economy. | |
| From 1 August, China has suspend value-added tax (VAT) and turnover tax for small businesses with monthly sales of less than 20,000 yuan ($3,257; £2,125). | |
| The cabinet said the move would benefit more than six million small companies and boost the employment and income for millions of people. | |
| Policymakers said they would also implement measures to simplify customs clearance procedures, cut operational fees and facilitate the exports of small and medium-sized private enterprises. | |
| Analysts said the moves were starting to have an impact on the growth numbers. | |
| "There is certainly a build up of momentum among the small manufacturers, which is an indication that China's policies targeted at them are working," said Tony Nash, vice-president at IHS. | |
| Factory output rose 10.2% in September, from a year earlier. Meanwhile, retail sales rose 13.3% and fixed asset investment jumped 20.2% during the month from levels a year ago. | Factory output rose 10.2% in September, from a year earlier. Meanwhile, retail sales rose 13.3% and fixed asset investment jumped 20.2% during the month from levels a year ago. |
| Tim Condon of ING added that the measures may help China sustain its growth rate in the current quarter as well. | |
| "The mini-stimulus we've seen is enough to keep it going at this pace in the fourth quarter," Mr Condon said. |