China grew 11.1 percent in the first quarter of 2007


The growth of consumption accelerated, agricultural production remained stable, economic efficiency continued to be enhanced, and the consumer price index (CPI) increased slightly.

In the first quarter of 2007, the national economy maintained a momentum of steady and rapid growth. The growth of consumption accelerated, agricultural production remained stable, economic efficiency continued to be enhanced, and the consumer price index (CPI) increased slightly.

In the first quarter, the GDP reached 5 trillion yuan, a growth of 11.1 percent and an acceleration of 0.7 percentage points on a year-on-year basis; the CPI rose by 2.7 percent year on year, an acceleration of 0.7 percentage points year on year; the trade surplus registered US$46.44 billion, US$23.14 billion more than that during the same period of the previous year.

The GDP deflator increased evidently. In the first quarter, the nominal GDP growth rate was 14.7 percent and the real GDP growth rate was 11.1 percent, resulting in a 3.6 percent GDP deflator (the difference between the nominal GDP growth rate and the real GDP growth rate), up 1.1 percentage points on a year-on-year basis.

People’s Bank of China
6/18/2007 9:46:15 PM