China's GDP growth to exceed 7.5 pct in Jan-Sept - Premier

Reuters

BANDAR SERI BEGAWAN, Brunei, Oct 10 (Reuters) - Growth inChina's economy should hold above 7.5 percent in the first ninemonths of this year, Premier Li Keqiang said on Thursday, in ahint that the nation's third-quarter growth report would not letdown investors looking for solid expansion.

Li said the world's No. 2 economy has shown stronger growthmomentum in recent months, backed by improvements in the realeconomy, including rising power consumption, business profitsand government revenues.

China is set to release its third-quarter economic growthreport on Friday, Oct 18, and analysts expect activity to haveexpanded by 7.8 percent from a year ago.

"In the past few months, our economy has shown strongermomentum," Li told a regional summit of Southeast Asian and U.S.politicians.

"With China's gross domestic product expected to stay above7.5 percent for the first three quarters this year, amedium-to-high rate of growth, we have confidence in fulfillingthe targets set out for economic and social development of2013," Li said.

China has set an annual economic growth target of 7.5percent, a goal Beijing repeatedly expresses confidence inachieving, though it still marks the weakest pace of expansionin more than 20 years.

After slowing in nine of the past 10 quarters, China'seconomy appears to have stabilised since June after Beijingacted to head off a sharper downturn. But analysts have warnedthat any rebound in activity would be short-lived if thegovernment keeps its promise and sticks to its reform agenda.

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