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.