News In Review

5th – 18th March

  • Published 19 Mar 2009

China’s statistics bureau released steady January and February retail figures and lacklustre industrial output figures, Wen promised 8% growth this year and announced a series of economic boosters, local governments were authorised to issue bonds, Beijing pursues its energy and resources grab, and melamine milk victims make a breakthrough with lawsuits.

Key figures releasedChina’s National Bureau of Statistics released key economic figures on March 12. Retail sales grew 15.2% in the first two months of the year to reach Rmb 2,008bn ($293.7bn, €224bn, £210bn). The figure was lower than the 20%-plus increase a year earlier. January and February figures were combined to account for any distortions from Chinese New Year, which this year fell in January, as opposed to February in 2008. The consumer price index fell to -1.6% in February, significantly lower than the 12-year high of 8.7% experienced in February 2008. Urban retail sales growth rose 14.4% to Rmb 1,350bn, while rural sales increased 17% to Rmb 653.9bn, the bureau reported.

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