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China 'is second largest' economy | China 'is second largest' economy |
(10 minutes later) | |
China says its economy expanded by 8.7% in 2009, likely leap-frogging Japan to become the world's second largest economy behind only the US. | |
The Chinese government also said the growth in the final quarter of 2009 accelerated by 10.7% from 2008. | |
But analysts say currency fluctuations make it difficult to compare China and Japan, and some experts question the accuracy of China's figures. | |
Japan announces its latest GDP figures next month. | |
Its economy is likely to have contracted by around 6% in 2009. | |
'Right direction' | |
The announcement was made by China's National Bureau of Statistics (NBS). | The announcement was made by China's National Bureau of Statistics (NBS). |
The figures have exceeded the targets set by the Chinese government, the BBC's Chris Hogg in Shanghai says. | The figures have exceeded the targets set by the Chinese government, the BBC's Chris Hogg in Shanghai says. |
A government spokesman said China has recovered from the global downturn and was moving in the right direction. | A government spokesman said China has recovered from the global downturn and was moving in the right direction. |
China was hit by the world economic crisis during late 2008 and early 2009, but not as badly as other countries. | China was hit by the world economic crisis during late 2008 and early 2009, but not as badly as other countries. |
It recovered with the help of a massive government stimulus package. | It recovered with the help of a massive government stimulus package. |