China’s Economy the world’s fastest growing one,met domestic targets to grow 8.7% last year rounding off the year with a 10.7% in the last quarter. It is on course to toppling Japan as the second biggest Economy this year.
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The GDP was lower than the 9.6% growth in 2008 and a double digit boom in previous years, but it was still better than Beijing’w own eight per cent target that the communist leadership says is necessary to maintain social stability and create jobs. In 2009 China’s Economy steadily recovered from the financial crisis and kept rising- 6.2% in the first quarter, 7.9% in the second quarter and 9.1% in the third. The fourth quarter saw the fastest quarterly growth in two years.
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