New growth figures show that the Chinese economy
is rolling along，… growing at a faster than expected pace in the second quarter this
year. This… as the country′s stimulus measures
kicked in. Our Shin Se－min tells us more.
China′s economy is back on track， growing seven－percent in the second quarter and
beating market expectations that it would drop into the six－percent range.
The figure still suggests the lowest level of growth since the global financial crisis
in 2009，… but meets China′s target of roughly seven－percent for this year. ″The Chinese government is capable and has
the confidence to prevent the regional and systematic risks from happening. It is also
capable and has the right conditions and the confidence to promote the stable development
of the stock market and the domestic economy.″ The country′s statistics bureau said the
second quarter figure was driven in part by better－than－expected employment figures，…
but added that further actions would be needed to strengthen the economy.
Meanwhile， industrial output jumped six－point－eight percent in June，… up point－seven percentage
points from the previous month. The rosier statistics have been attributed
to the central bank′s stimulus policies， which have helped put a floor under the Chinese
economy. The central bank has slashed its benchmark
rate four times since last November as part of efforts to shore up the slowing economy…
after seeing its quarterly GDP growth drop steadily
from seven－point－eight in 2013. Despite beating expectations， there are
lingering concerns about the government′s handling of the recent stock market crash
that led share prices to tumble over 30－percent last month.
That′s given rise to questions about whether President Xi Jinping′s so－called ″China
Dream″ of building a ″rich and powerful nation″ is merely that…. nothing more
than an unachievable dream. Shin Se－min， Arirang News.