Reuters cited Mr Zhu Min vice governor of the People Bank of China as saying that China is experiencing a clear V-shaped economic recovery.

Mr Zhu comment on the solidity of growth in the world third largest economy comes a day after the central leadership said it would stick to pro-growth policies implemented more than a year ago to counter the shock of the global financial crisis, while leaving open the possibility of tightening down the road.
He said that "China economy has started stabilizing and showed a clear V-shaped recovery. The relatively loose monetary policy adopted by China to address the global financial crisis has produced good results."

He added that the economy was well on track to meeting or exceeding the government's target of 8% growth this year.

Annual growth picked up to 8.9% in the Q3 from 6.1% in the first three months, turning the focus of attention to when and how policymakers will unwind stimulus that has included encouraging a flood of lending in the first half of the year.