China’s Economic Growth Reaches 8.7 Percent in 2009

Posted by Reading Time: < 1 minute

BEIJING, Jan. 21 – In the midst of a global downturn, China’s economy grew by 8.7 percent in 2009, achieving the central government’s full-year growth target of 8 percent and totaling RMB33.53 trillion, the National Bureau of Statistics reported today.

The GDP growth for the fourth quarter was 10.7 percent year-on year.

China’s GDP fell to 6.1 percent in the first quarter of 2009 as exports shrank, but China’s massive RMB4 trillion stimulus package buoyed domestic consumption, and the economy accelerated through the second and third quarters, rising 7.9 percent and 8.9 percent respectively.