(PTI): China’s economic recovery has accelerated in the third quarter of 2009, reaching 8.9 percent, as most sectors of the economy have performed strongly.

The rebound was fuelled by a massive government stimulus program that helped the Chinese economy recover from the global recession. According to data released on Thursday, the gross domestic product (GDP) of China in the first three quarters of 2009 showed a year-on-year increase of 7.7 percent, which is far ahead of any other major economy.

China’s annual GDP growth accelerated to 8.9 percent in the third quarter from 7.9 percent in the previous quarter.

Considering the rebound, the Chinese government is now being urged to begin withdrawing some of the stimulus funds it has injected.

Meanwhile, Li Xiaochao, spokesperson for the National Bureau of Statistics (NBS), said the economy was at a ‘crucial stage’.

“The basis of the economic recovery still needs to be consolidated, and the insufficient external demand is still severe,” he said.

“Investment played an important and positive role in maintaining relatively fast growth and reversing the slowdown,” Li added.