| First quarter GDP up 11.1% |
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| 2007-04-24 22:27 China Daily |
The Chinese economy has started 2007 on a strong note, expanding by 11.1 percent in the first quarter. But fears that rapid economic growth will drive interest rates higher weighed on the stock markets.
The gross domestic product (GDP) reached 5.03 trillion yuan in the first quarter, according to latest figures provided by the National Bureau of Statistics (NBS). The country's fixed-asset investment rose by 23.7 percent year-on-year.
"The national economy is picking up in an all-around way," Li Xiaochao, spokesman for NBS, told a news conference. "Except for fixed-asset investment, all major economic indicators have shown signs of acceleration."
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