Economic growth in Q3 hits 11.5%

The economy grew by a blistering 11.5 percent in the third quarter, although slightly down from 11.9 percent in the second, raising the possibility of more interest rate rises and other curbs to prevent overheating.

The growth was driven mainly by a double-digit surge in investment in factories and other fixed assets, the National Bureau of Statistics (NBS) said yesterday.

As the economy continues to steam ahead, China is expected to replace Germany this year to become the third largest in GDP terms, behind the United States and Japan, Zhang Ji, a senior official from the Ministry of Commerce, said yesterday.