China's economy grows 10.3% in 1Q
Updated: 2006-05-24 06:23
China on Tuesday revised its growth rate for the first quarter up slightly,
saying farming, fishing and some other industries expanded faster than thought.
The economy grew 10.3 percent in the January-March period compared with a
year earlier, the National Bureau of Statistics announced. That was a bit
stronger than the previous estimate of 10.2 percent.
Total economic output from January to March was raised by 7.7 billion yuan
(US$960 million) to 4.339 billion yuan (US$541 billion), the bureau said.
Farming, fishing, animal husbandry and forestry accounted for just over half
the added growth, the agency said. It said the rest came from services.
It said the new figures also showed that output from manufacturing, mining,
construction and utilities was slightly lower than previously reported.
Chinese leaders want to maintain fast growth in order to reduce poverty while
trying to restrain spending on factories, shopping malls and other assets that
they fear could lead to a glut and financial problems.