China's recovery accelerated in the third quarter as a result of the government's massive lending and investment programme with the economy growing at 8.9 per cent compared with the same period last year.

The economy's rebound has raised concerns about asset price bubbles and inflation. But officials said yesterday that the government was not ready to withdraw its aggressive stimulus. "In the following period we will stick to continuity and stability in our economic policy," said Li Xiaochao of the National Bureau of Statistics. "According to my understanding, that means no change in policy."