BBC NEWS | Business | China seeing 'gradual recovery' - 0 views
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China's economy is showing some signs of recovery from the global financial crisis, the country's Prime Minister Wen Jiabao has said.
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China has already implemented a 4tn yuan ($585bn;£399bn) stimulus package to boost economic activity. Mr Wen also said he would spend more if necessary to boost the economy.
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Despite its problems, China's economy - the third biggest in the world - is forecast to grow by at least 5% this year, in stark contrast to many major global economies that are shrinking.
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Earlier this month, figures showed that China's manufacturing sector grew in March for the first time in six months. The purchasing managers index from the state-sanctioned China Federation of Logistics and Purchasing rose to 52.4 from February's figure of 49. Any figure above 50 indicates an expansion in the manufacturing sector.
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Manufacturing accounts for about 40% of China's economy and has been hit hard by falling demand for its goods in recession-hit western economies. In fact, Chinese exports plunged by more than a quarter in February from a year ago. Exports dropped by 25.7% to $64.9bn (£47.3bn) compared with the same month a year earlier.
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In the final three months of last year, China's economy expanded by 6.8% from a year earlier - below the 8% that officials view as the level needed to keep unemployment in check and avoid social unrest. Overall growth in 2008 stood at 9% - the first time since 2002 that the economy has expanded at a single-digit pace.
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Mr Wen has announced a target of 8% growth for China's economy in 2009, but many analysts believe the figure will be closer to 5%. In fact, his comments on positive signs of recovery do not chime with the views of some analysts, who believe China will continue to struggle during the global economic slowdown.