China's macro economy has remained sound and stable with the trend of overheated growth being reined in during the first three quarters, said the National Bureau of Statistics (NBS).
"Overheated economic growth is being put under control with decline in the growth of major economic indicators," said Li Xiaochao, a NBS spokesman.
Official statistics show the growth of fixed assets investment in urban areas in the first 10 months was 4.5 percentage points lower than the same period last year.
Industrial production, which plays a leading role in economic growth, showed a sharp drop in growth and a steady increase in profits.
Official statistics show the country's industrial production grew by 14.7 per cent year on year in October, compared with 19.5 per cent in June. Meanwhile, profits rose 30.1 per cent in the first 10 months, compared with 28 per cent in the first half year.
The galloping expansion of China's bank loans has been controlled with the growth of the broad money supply, or M2, dropping from 18.4 per cent in June to 16.8 per cent in September.
Material prices rose slowly and the energy supply improved considerably. A survey by NBS showed most large and medium-sized enterprises did not consider tight energy supply a major factor in restraining their business development in the third quarter.
Analysts say regulation by market forces is not enough to slow the economy, and it should be combined with fiscal and administrative measures.
Li said China's macro economic regulation has been timely, effective, and without drastic fluctuations.
