Chinese economy recovering
China’s economy is on the road to recovery, according to China’s central bank.
Yi Gang, vice governor of the People’s Bank of China said the stimulus package had kicked in and the nation’s economy is showing signs of improvement. “The second quarter and the remainder of this year will continue this recovery trend,” he said.
China’s economic growth slowed to 6.1 percent in the first quarter, but data for March showed industrial output rose 8.3 percent from a year earlier.
China announced a four-trillion-yuan ($A823.94 billion) stimulus package in November in a bid to boost investment to prop up the economy, as its exports were hit hard amid the global financial crisis.
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