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China’s National Bureau of Statistics recently issued economic data for the first half of the year, showing that the country’s gross domestic product (GDP) grew by 10.9 percent and fixed asset investment increased by 29.8 percent,0.9 and 4.4 percentage points higher, respectively, than the same period last year. How should one view these figures related to China’s economic performance? Is the country’s economy overheating now? What is the trend for the second half of the year? In an article in People’s Daily, several government officials and economists responded to those questions. Excerpts follow:
China’s National Bureau of Statistics recently issued economic data for the first half of the year, showing that the country’s gross domestic product (GDP) grew by 10.9 percent and fixed asset investment increased by 29.8 percent, 0.9 and 4.4 percentage points higher, respectively, than the same period last year. How should one view these figures related to China’s economic performance? Is the country’s economy overheating now? What is the trend for the second half of the year? In an article in People’s Daily, several government officials and economists responded to those questions. Excerpts follow: