China's economic growth rebounds to 7.8 percent
Data announced Friday showed growth accelerated from the previous quarter's two-decade low of 7.5 %.
BEIJING (AP) - China s quarterly economic growth rebounded to 7.8 percent in the latest quarter after a boost in government spending to reverse a sharp downturn.
Data announced Friday showed growth accelerated from the previous quarter s two-decade low of 7.5 percent.
The rebound was driven partly by a government "mini-stimulus" that pumped money into the economy through higher spending on construction of railways and other public works.
The communist government is trying to steer growth to a slower, more sustainable level based on domestic consumption instead of exports and investment.
But the unexpectedly abrupt decline in global demand for Chinese goods prompted Beijing to reverse course temporarily and take targeted steps to prop up growth and avoid politically dangerous job losses.
