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China's GDP grows 11.9% in Q1

Updated:2010-04-15 14:20:06

China's gross domestic product (GDP) grew 11.9 percent year on year in the first quarter to 8.06 trillion yuan (1.19 trillion U.S. dollars), the National Bureau of Statistics (NBS) announced Thursday.

The increase is 5.7 percentage points higher than the same period last year when the economic growth slowed to 6.2 percent, the lowest in a decade.

It also accelerated from 10.7 percent in the fourth quarter.

"With the implementation of the stimulus package to combat the global financial crisis, the Chinese economy achieved a good start this year as the recovery momentum continues to consolidate, laying a solid foundation to meet the annual economic target," NBS spokesman Li Xiaochao said.

"The 11.9 percent growth in the first quarter is largely a result of last year's low comparison base, and the government's stimulus," Li said.

He noted the economic conditions remained "very complicated" with many difficulties still existing.

China's gross domestic product (GDP) grew 11.9 percent year on year in the first quarter to 8.06 trillion yuan (1.19 trillion U.S. dollars), the National Bureau of Statistics (NBS) announced Thursday.

The increase is 5.7 percentage points higher than the same period last year when the economic growth slowed to 6.2 percent, the lowest in a decade.

It also accelerated from 10.7 percent in the fourth quarter.

"With the implementation of the stimulus package to combat the global financial crisis, the Chinese economy achieved a good start this year as the recovery momentum continues to consolidate, laying a solid foundation to meet the annual economic target," NBS spokesman Li Xiaochao said.

"The 11.9 percent growth in the first quarter is largely a result of last year's low comparison base, and the government's stimulus," Li said.

He noted the economic conditions remained "very complicated" with many difficulties still existing.

 

 

 

Source:http://news.xinhuanet.com

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