China's GDP growth rate slowed to 10.3% in the second quarter, down from 11.9% the previous quarter, as the Government made efforts to cool the overheating economy.
Figures from the National Bureau of Statistics show that growth for the first half of the year was 11.1%, well above the Government's 8% growth target for the whole year.
Sheng Laiyun, a spokesman for the Bureau, says the pattern of economic growth is as expected. "In the first half of 2010, all regions and departments effectively implemented the policies on dealing with the international financial crisis, and proactively pushed forward the transformation of economic development mode.
"As a result, the national economy showed good momentum of development, and kept moving towards the expected direction of macro economic control."
The Chinese authorities have recently been taking steps to dampen down speculation in housing market and prevent a bubble forming, among other measures to keep economic growth in check.
The International Monetary Fund predicted earlier this year that China's economy would grow 10.5% over the course of 2010.
‘Most significant’ upgrade since launch
Changes happening over coming months
Had accepted British Steel business
Aimed at HNW clients and family groups
Set for 1 April 2019