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China c. bank chief sees first signs of recovery

Published 03/26/2009, 05:18 AM
Updated 03/26/2009, 05:24 AM

BEIJING, March 26 (Reuters) - China's prompt economic moves to support the economy are starting to bear fruit, central bank governor Zhou Xiaochuan said in remarks published on Thursday.

In a paper on the website of the People's Bank of China, www.pbc.gov.cn, Zhou said the momentum of the slowdown in the world's third-largest economy had been arrested and leading indicators were pointing to the first signs of recovery.

China expected to be a stabilising force for the world economy, Zhou said in his note, published exactly a week before leaders of the Group of 20 developed and emerging economies meet in London to take stock of the world financial crisis. (Reporting by Simon Rabinovitch and Jason Subler; Writing by Alan Wheatley, Editing by Jacqueline Wong)

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