Growth increased from 9.8pc in first quarter to an estimated 11.3pc in second
The mainland's gross domestic product grew more than 10 per cent in the first half of the year despite government moves to slow the economy, a top mainland official said yesterday.
Vice-Premier Zeng Peiyan told a BusinessWeek forum in Chongqing that growth would be above 10pc and Beijing's moves to control the economy had achieved some results.
He expected the central government's ability to manage the economy to continue to strengthen.
Separately, a think-tank under the State Development and Reform Commission estimated GDP rose 11.3 per cent year on year in the second quarter and about 10.5 per cent in the first half. The economy grew only 9.8 per cent in the first quarter of this year. Analysts are debating whether the government will be able to engineer a soft landing.
In a report in the China Securities Journal, the development commission's Macroeconomic Research Institute said: 'The positive results are only preliminary. Management of land must be strengthened and the rapid increase in credit to property and certain industries must be controlled.'
Second-quarter GDP growth is widely expected to outpace the first quarter. Earlier this week another think-tank, the State Information Centre, estimated second-quarter GDP at 11.4 per cent.