China’s economic growth at 7.8 percent
BEIJING – China’s economic growth rebounded in the latest quarter, easing pressure on communist leaders for more stimulus and allowing them to focus on longer-term reforms.
The world’s second-largest economy grew by 7.8 percent over a year earlier in the three months ending in September, boosted by higher government spending, data showed Friday. That was up from a two-decade low of 7.5 percent the previous quarter.
“The fundamentals of China’s economy are turning for the better,” said a National Bureau of Statistics spokesman, Sheng Laiyun, at a news conference.
The improvement eases pressure on communist leaders who say their priority is longer-term reforms aimed at steering the economy to slower, more sustainable growth based on domestic consumption instead of exports and investment.