China's economy shows signs of recovery

, March 8:

's

has shown clear signs of recovery since the fourth quarter of 2012 and is developing as planned, a senior economic planning official said Friday.

Shi Zihai, head of the policy research office under the National Development and Reform Commission, said the country's consumption, investment and exports all saw faster growth in the fourth quarter last year, reported Xinhua.

The three economic driving forces are rebounding and other economic indicators, including the purchasing managers' index and cargo throughput at ports, are also recovering, Shi said.

China's economy is improving at all levels, he said.

China's e-commerce revenue hits $175 bn

China's booming online commerce industry is expected to have reaped more than 1.1 trillion yuan (about $175 billion) in revenue in 2012, Commerce Minister Chen Deming said Friday.

"The total revenue of online commerce is estimated to be around 1.1 trillion yuan (about $175 billion) to 1.2 trillion in 2012," Xinhua quoted Chen as saying.

China's online commerce has experienced rapid growth in recent years, with its total revenue expanding from 25.8 billion yuan in 2006 to 780 billion in 2011, the commerce minister told a press conference held on the sidelines of the ongoing national legislature.

"Online shopping is changing people's way of life and consumption, taking advantage of the huge potential of China's industrialization and urbanization," Chen said.

The commerce minister said the growth dwarfed that of many western countries.

IANS