China's economy grew by 7.9% in the first half of the year compared with the same period in 2000, according to the latest official statistics published today. The national bureau of statistics said China's gross domestic product grew by 7.9% to 4,294 billion yuan ($418 billion).
China's economy has taken a beating as the global economic slowdown has led to a cooling of Chinese exports.
The growth rate was in line with expectations as government statisticians had previously said the economy would grow by about 8% in the first half of the year.
'In the first half of the year, every area and every government department worked hard to overcome problems from the international economy and from serious droughts in some areas at home,' the office said.
In the second quarter of this year, China's GDP grew by 7.8%, a slightly slower rate than the first-quarter growth of 8.1%.
The bureau said the domestic consumption market was moderately brisk, growing by 10.3% in the first six months of the year. However, consumers were much more willing to spend in the cities where consumption growth was 11.6% compared with just 8.1% in the countryside.
In an indication that China still has problems with triggering domestic economic activity, consumer prices were up by just 1.1% in the first half. Economists warned that the economy may face more serious challenges in the rest of the year because of the continued weak global economic outlook.
