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POLITICAL ECONOMY
China to meet 7.5% economic growth goal: state media
by Staff Writers
Beijing (AFP) Nov 28, 2012


China will meet its target for annual economic growth of 7.5 percent this year despite the impact of the global slowdown, state media quoted a top trade official as saying Wednesday.

"China's economy has advanced this year despite global economic headwinds," Commerce Minister Chen Deming was quoted by the official Xinhua news agency as saying.

"Full-year growth will be consistent with predictions made at the beginning of 2012," he told a financial conference.

China's economic growth hit a more than three-year low of 7.4 percent in the third quarter this year, but recent data has fuelled optimism that the world's second largest economy is rebounding.

China in March set a goal of 7.5 percent growth this year, down from 9.2 percent growth recorded last year and 10.4 percent in 2010.

Premier Wen Jiabao, who is expected to step down next year, made similar comments about the economy in September, saying China was on course to meet its 2012 growth target.

China sets its annual economic growth target at the once-yearly meeting of the National People's Congress, the country's legislature, at a session which is held every March.

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Tokyo eyes $10.7 bln stimulus ahead of polls: reports
Tokyo (AFP) Nov 27, 2012
The cabinet of Japanese Prime Minister Yoshihiko Noda is set to approve a $10.7 billion economic stimulus package, reports said Tuesday ahead of elections that the ruling party is widely expected to lose. Approving the package - Tokyo's second in about a month - after calling an election would be an unusual move that would likely trigger vote-buying criticism from opposition lawmakers, Kyo ... read more


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