China's H1 GDP to grow 8%

China's H1 GDP to grow 8%

BEIJING (Reuters): In a sign that China is defying the global
economic slowdown, the government has forecast gross domestic
product will grow near or at 8 percent in the first half of this
year, a state newspaper reported on Tuesday.

The Financial News quoted a preliminary forecast by the State
Statistical Bureau as saying economic growth in the first half of
this year could "roughly match" that of last year.

In 2000, the economy reversed a seven-year slowing streak by
expanding eight percent, powered by stronger state spending and
returning consumption as exports surged.

Growth in the first quarter of this year was a faster-than-
expected 8.1 percent higher than in the same period of last year
as the government kept on spending and consumers bought more.

Government officials have been eager for domestic demand to
play a bigger role this year to help offset slowing export growth
caused by the global economic slowdown.