Indiana Grain Company, LLC

Posted: 07/02/09

By: tomgrisafi

The head of China's central bank said the country's economy was on the mend and expressed confidence that a government target of 8 percent growth this year would be met.

Zhou Xiaochuan, governor of the People's Bank of China, said signs the downturn in the world's third- argest economy was leveling off began to emerge in March.

"We can see that in recent times it is stabilizing and is actually taking a turn for the better," Zhou told reporters in Hong Kong.

"Supposing that the international financial crisis will not take a turn for the worse ... in the third and fourth quarters the situation will continue to improve and probably we can achieve the previously set" target for growth, he said.

Source: Washington Post