China says its economic growth still reasonable

BEIJING: China's economic slowdown in the third quarter was due to structural reforms in the nation, a sagging housing market and higher comparison figures from a year ago, the statistics agency said, but noted that growth stayed in a "reasonable range".

Sheng Laiyun, spokesman of the National Bureau of Statistics, also said consumption contributed to 48.5 percent of China's economic growth in the first nine months of the year, eclipsing investment which accounted for only 41.5 percent.

Data earlier showed China's economic growth cooled to 7.3 percent between July and September from a year earlier, the weakest expansion since the global financial crisis and adding to bets that Beijing may roll out more stimulus to avert a bigger slowdown. Sheng made the comments at a press briefing on Tuesday about China's third-quarter economic performance.