Governor of People's Bank of China Mr. Zhou Xiaochuan said on June 29th in Hong Kong that the economic development of the Mainland in the first quarter and the second quarter remained stable.
The economy of Mainland China this year was expected to achieve the desired target of 8 percent in growth, if there would be no significant decline in global economy in the second half.
Zhou Xiaochuan says that the crisis has had a certain influence on the economy, particularly on consumer confidence; the impact being significant in the fourth quarter of last year and first quarter of this year.
However, since March of this year, there have been good signs of stability and he was very much optimistic that the performance of the second half would be better than the first half.
Fibre2fashion News Desk - China
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