China economy showing clear signs of stabilization: statistics bureau

(Reuters) - China's economy is showing clear signs of stabilization, helped by policy support and some improvement in global demand, and is on track to meet the government's 2013 growth target of 7.5 percent, the state statistics bureau said on Monday.
The issue of local government debt also remained under control, the National Bureau of Statistics said at a briefing organized by the foreign ministry that may have been aimed at allaying global concern about China's slowdown.
"We are confident that the economy is sustaining the positive momentum in the second half and confident of meeting the economic growth target," said Sheng Laiyun, the NBS's spokesman.
"The economy is showing some positive changes. Signs of growth stabilization are becoming more obvious," he said. Read more...