Editor's Note: The Chinese government released economic data for March, Indicating a bright outlook.
The economy grew by a better-than-expected 11.9 percent year on year in the first quarter, official figures showed Thursday, prompting renewed calls for tighter policies to prevent overheating.
The blistering rate is the fastest since 2007 and the figure is 5.7 percentage points higher than the same period last year, and 1.2 points higher than the last quarter, according to the National Bureau of Statistics. [Full Story]
China's consumer price index (CPI), a main gauge of inflation, rose 2.4 percent year on year in March, the NBS announced on April 15.
The figure was 0.7 percentage points lower than the previous month, and for the first quarter, it was up 2.2 percent.
In the first quarter, consumer prices in urban areas increased 2.1 percent while rural regions' consumer prices rose by 2.4 percent. Food prices, which accounted for about a third of the CPI, gained 5.1 percent. [Full Story]
China's producer price index (PPI), a major measure of inflation at the wholesale level, increased by 5.2 percent year-on-year in the first quarter of 2010, the National Bureau of Statistics (NBS) announced on April 15.
March's PPI rose 5.9 percent from the previous year, the NBS said. [Full Story]
Retail sales grows 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 to 3.6374 trillion yuan ($532.56 billion) in the first quarter this year, the National Bureau of Statistics (NBS) said on April 15.
The figure was 2.9 percentage points higher than the same period last year, said NBS spokesman Li Xiaochao.
Urban consumption hit 3.06 trillion yuan, up 18.4 percent year-on-year, while rural residents spent 580.3 billion yuan, up 15.4 percent. [Full Story]