PBOC: China going through V-shaped recovery

Speaking of economic recovery, China is clearly going through what's called a V-shaped economic recovery meaning short and sharp contractions followed by rapid and sustained recovery.

This is according to vice governor of the central bank, Zhu Min, who is reporting positive results for relatively loose monetary policies aimed at tackling the global financial crisis. He added that the economy was well on track to meeting or even exceeding the government's target of 8 percent growth for the year.