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The Chinese economy rose by 11.5 percent in the first half of 2007, continuing on a "sound and rapid" path which needs some "adjustment", officials and researchers said yesterday. The gross domestic product (GDP) hit 10.68 trillion yuan ($1.39 trillion) in the first six months, growing 0.5 percentage points higher than a year ago, the National Bureau of Statistics (NBS) said in its quarterly release. The GDP is expanding much faster than the year's target of around 8 percent, largely because industrial and taxation policies had spurred economic growth; and economies elsewhere in the world grew faster than expected at the onset of 2007, bureau spokesman Li Xiaochao said. "We are keeping a close watch on what direction (China's) accelerated economic growth is taking," Li told a press conference. "But whether or not the economy is overheated is a complex issue that should be viewed from different angles." Related readings: NPC p...

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