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Chinese Economy Advancing at Slightly Faster Pace

  • VOA News

A worker prepares to load cement on a crane at a residential building under construction in in Xiahe, Gansu Province, China, Oct. 17, 2013.

A worker prepares to load cement on a crane at a residential building under construction in in Xiahe, Gansu Province, China, Oct. 17, 2013.

China says its economy advanced at a slightly faster pace in recent months, allaying fears that the world's second largest economy was headed for a downturn.

Beijing said Friday its economy grew by 7.8 percent in the July-to-September period from a year earlier, edging ahead of growth it recorded in both the first and second quarters of 2013.

Analysts said the Chinese advance stemmed from modest government stimulus efforts, including spending for railway projects and tax cuts, more factory production and higher retail sales.

China is planning reforms that are designed to emphasize domestic consumption, so it does not have to rely as much on overseas trade.
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