Financial Times FT.com

Policy fails to rein in 9.5% rate of growth

By Andrew Yeh and Mure Dickie in Beijing

Published: January 26 2005 02:00 | Last updated: January 26 2005 02:00

Strong export sales and buoyant consumer demand helped Chinese economic growth rebound to 9.5 per cent year on year in the fourth quarter of 2004, despite government efforts to restrain the economy.

The unexpectedly strong performance, with gross domestic product expanding 9.5 per cent for the full year compared with a revised 9.3 per cent for 2003, means the economy appears some way from achieving a "soft landing", with growth returning to more sustainable levels.

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