China releases economic data for Q1 2010

China's GDP grows 11.9% in Q1

China's economy is roaring ahead with sizzling speed...GDP in the first quarter grew 11.9% from a year earlier, topping expectations. It's the fastest annual pace in nearly three years. This is according to the National Bureau of Statistics. Guan Xin takes a close look at the economic data.

China's gross domestic product in the first quarter hit 8 trillion yuan. That's an increase of 11.9 percent from last year. The pace is the fastest since the second quarter of 2007.

The NBS says figures show China's economic recovery has gained momentum, laying a good foundation for achieving the government's full year targets.

China is also facing increasing inflationary pressure. The growth of Consumer Price Index, the main gauge of inflation, hit 2.2 percent. The food component of CPI rose 5.1 percent. And the Producer Price Index grew 5.2 percent. The NBS says China must implement policies that adjust the economic structure and manage inflationary expectations if it hopes to achieve sound and fast economic and social development.

The bureau also released other figures, indicating robust expansion in all its major sectors. Industrial output grow by 19.6 percent. Retail sales stayed robust, up nearly 18 percent. Urban Fixed Asset Investment climbed over 26 percent, driven by stimulus spending.

Related Story:

China's CPI rises 2.4% in March

China's consumer price index (CPI), a main gauge of inflation, rose 2.4 percent year on year in March, the National Bureau of Statistics (NBS) announced here Thursday>>Full Story

China's PPI rises 5.9% in March

The producer price index (PPI), a major measure of inflation at the wholesale level, rose 5.9 percent in March from a year earlier, the National Bureau of Statistics (NBS) announced here Thursday>>Full Story

China's FDI up 7.7% in Q1

Foreign direct investment (FDI) to China increased 7.7 percent year-on-year to $23.44 billion in the first quarter, vice commerce minister Ma Xiuhong said here Wednesday>>Full Story

China's retail sales up 17.9% in Q1

China's retail sales, the main gauge of consumer spending in the world's fastest-growing economy, rose 17.9 percent year on year in the first quarter this year>>Full Story

China fixed asset investment up 25.6% in Q1

China's fixed asset investment rose 25.6 percent year on year in the first quarter of this year>>Full Story

China's industrial value-added up 19.6% in Q1

China's industrial value-added increased 19.6 percent year on year in the first quarter of 2010>>Full Story