China Sport

Good News for all China stocks! 

China's economy bounces back with 7.9% growth in 2009 Q2
Posted: 16 July 2009 1043 hrs

	Photos 1 of 1 A couple use an automatic teller machine at a bank in Beijing.

BEIJING: China's economy grew 7.9 per cent in the second quarter of 2009, the government said Thursday, in a startling turnaround for the Asian powerhouse fuelled by a massive stimulus package.

Expansion in the world's third biggest economy picked up pace again after growing by just 6.1 per cent in the first quarter of the year, which was the slowest growth in more than a decade.

China's gross domestic product grew by 7.1 per cent in the first half of 2009 compared with the same period a year earlier, the National Bureau of Statistics said.

This put China back on track to achieve its goal of 8.0 per cent growth for the whole year, despite the global financial crisis, however the government warned many pitfalls still lay ahead.

"There are many difficulties and challenges existing in the current national economic performance," bureau spokesman Li Xiaochao told reporters.

"The base for recovery is still infirm. The momentum for picking up is unstable. The recovery pattern is unbalanced and thus there are still uncertain volatile factors."

Before the global economic crisis struck last year, China had experienced double-digit growth from 2003 to 2007.

The government in November implemented a four-trillion-yuan (580-billion-dollar) package in November last year that has had dramatic results.

China's urban fixed asset investments, a measure of government spending on infrastructure, rose 33.6 per cent in the first half of 2009 compared with the same period a year earlier, the bureau said.

Investments in urban fixed assets increased by 35.3 per cent in June year-on-year, according to the bureau.

China's consumer price index, the main gauge of inflation, fell 1.7 per cent in June compared with the same month a year earlier, a further decline from May's drop of 1.4 per cent, the bureau said.

However analysts said inflation could make a quick return and prove a problem for China's economic planners.

The consumer price index grew 5.9 per cent in 2008 but weakened significantly as the global crisis slowed China's economy.

China's industrial output, which illustrates activity in the nation's millions of factories and workshops, expanded by 9.1 per cent in the second quarter of 2009 from a year earlier, the bureau said.

In June, industrial output increased by 10.7 per cent, and by 7.0 per cent for the first half of 2009.

Hope those that bought last week, huat ah..............

And hope my abit of bullish sentiment i mentioned last week continues. Cheers.

Hi fartist,

You got my style. No risk no gain ...

I would say that depends on individual on entry point. If it were to rally till the resistance at the ema, the risk reward ratio is still quite attractive as it still offers about 20+% upside.

Well like i side, it's all up to individual and risk tolerance of each one of us, my 2cents :)

richtan      ( Date: 14-Jul-2009 21:51) Posted: Even if the price moves up, the 3 emas pose strong resistances. I would prefer to enter only when it is above the 3 emas n either test it as a support or then forms a higher high n higher low after breaking above the 3 emas and the 3 emas gradient flattening. pilotfish      ( Date: 14-Jul-2009 21:47) Posted: As expected, volume increases in line with price. Expecting buy signal will appear soon if no external factor. Chart showed indicators gaining strength esp the RSI oscillator. It took 7 days for the reversal after the signal. sigh... See chart

Even if the price moves up, the 3 emas pose strong resistances.

I would prefer to enter only when it is above the 3 emas n either test

it as a support or then forms a higher high n higher low after breaking

above the 3 emas and the 3 emas gradient flattening.

pilotfish      ( Date: 14-Jul-2009 21:47) Posted: As expected, volume increases in line with price. Expecting buy signal will appear soon if no external factor. Chart showed indicators gaining strength esp the RSI oscillator. It took 7 days for the reversal after the signal. sigh... See chart