News In Review

2nd - 18th April

  • Published 17 Apr 2009

Economic growth slows further, while loans surge; Beijing announces ambitious healthcare reforms; Baosteel considers a management reshuffle; Pearson acquires China's Wall Street English; and private equity firms apply for national pension fund investments.

Growth slows, loans surgeChina's gross domestic product grew at its slowest pace in almost 10 years to 6.1% year-on-year in the first three months of 2009, according to the National Bureau of Statistics on April 16. This was down from the 6.8% year-on-year growth registered in Q408. Nevertheless, as other key economic indicators show signs of recovery, analysts are predicting this lacklustre first quarter growth marks China's economy bottoming out. Growth in industrial production, measured as value added of industry, expanded 8.3% year-on-year in March, up from 3.8% recorded in the first two months of 2009. Urban fixed-asset investment surged 30.3%, while retail sales rose 14.7% in the same period. Consumer prices fell 1.2% in March from a year earlier, compared with 1.6% in February, while producer prices fell 6%, the biggest drop in at least a decade.

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