China's economy slows as expected in 2nd quarter

China reported second-quarter GDP growth in line with reduced expectations at 7.5%, down from a 7.7% annual rate in the first quarter. "Overall, economic conditions in the first half are stable; major indicators are still within the reasonable range expected at the beginning of the year," said Sheng Laiyun, a spokesman for the National Bureau of Statistics. The government's target for 2013 growth is 7.5%.

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