Posted by: Rehan Today | January 21, 2010

China becomes world’s second largest economy


BEIJING: China says its economy expanded by 8.7% in 2009, likely 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.

The announcement was made by China’s National Bureau of Statistics (NBS).

The figures have exceeded the targets set by the Chinese government. 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. It recovered with the help of a massive government stimulus package.

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