CHINA / National
Economy grows 10.2% in 1st Qtr
(China Daily/Agencies)
Updated: 2006-04-17 05:29
President Hu Jintao yesterday said the Chinese mainland's economy grew by
10.2 per cent year-on-year in the first quarter of this year, but
expressed concern about the rapid growth.
President Hu Jintao(R) meets with former chairman of Taiwan's opposition
Kuomintang (KMT) Lien Chan at the Great Hall of People in Beijing on
Sunday. [Xinhua]
"The mainland economy maintained good developmental momentum with our
gross domestic product (GDP) in the first quarter rising by 10.2 per
cent," Hu told Lien Chan, former chairman of Taiwan's opposition
Kuomintang (KMT).
The mainland's economy expanded by 9.9 per cent in 2005 and the
government has set a growth target of 8 per cent for this year.
"Frankly speaking, we do not hope to pursue excessively rapid growth; we
are paying more attention to the efficiency and quality of development,"
the president said.
"We are paying more attention to the transformation of the mode of
growth, resource conservation, environmental protection and more
importantly, the improvement of the lives of the people."
The median forecast was for first- quarter gross domestic product growth
of 9.6 percent from the year earlier period, compared with 9.9 percent in
the fourth quarter.
China's economy expanded by an average 10 percent in the past three years
driven by an investment boom. Premier Wen Jiabao said the government will
tighten controls on fixed-asset investment and lending after reviewing
the country's first-quarter performance, the Xinhua News Agency reported
on April 14.
China leapfrogged France and the U.K. to become the world's
fourth-largest economy last year, boosted by the results of a nationwide
census in 2004 that showed the $2.26 trillion economy was 17 percent
bigger than previously estimated.
The National Bureau of Statistics is due to release GDP figures and other
economic data for March at 10 a.m. in Beijing on April 20.
Related Stories
� Gov't 'has key role' in market economy
===========================================================================
� China to improve efficiency, not slow growth: analysts
===========================================================================
Most Commented/Read Stories in 48 Hours
Today's Top News
� Hu: Lower trade barriers, Bush: Keep tech edge
� China to train US teachers in Chinese
� China's next Yao says no to NBA draft
� Italy's top court confirms Prodi win
� Penalties on shoes a lose-lose decision
Top China News
� Hu: business co-op pillar for Sino-US ties
� Yale president urges against 'irrational' fears of China
� Thirst for knowledge bridges cultural gap
� Sailor shortage in growing industry
� 'Green packaging' demand to help environment
Chinese Online Class
No comments:
Post a Comment