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China's economy grows 9.9 percent in first quarter:
official
BEIJING (AFP) China's economy grew 9.9 percent from a
year ago in the first quarter, the highest growth rate
in six years, the National Bureau of Statistics said.
The bureau's chief economist Yao Jingyuan said the
economy grew by 9.9 percent to 2,356 trillion yuan in
the first three months of the year.
It was the fastest first quarter growth since 1997 and
2.3 percentage points higher than first quarter growth
in 2002.
"This year the nation's economic growth was strong due
to stable and continued macro economic policy and the
continued strengthening of the micro economy as well
as the positive effect of the continued role of the
World Trade Organisation," he said.
Industrial growth was up 17.2 percent to 834.3 billion
yuan, 6.3 percentage points faster than the same
period last year.
Fixed asset investment rose to 615.5 billion yuan, up
27.8 percent over the same period last year and 8.2
percentage points faster than the first quarter in
2002.
State fixed asset investment jumped 31.6 percent to
447.9 billion yuan while retail sales rose 9.2 percent
to 1.1109 trillion yuan.
(17/04/2003)
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