China's GDP grows 9.5% in Q1

China’s GDP grows 9.5% in Q1

China's GDP (Gross Domestic Product) rose 9.5% to RMB 3.14 trillion (around $379 billion) in the first quarter of 2005, the China's National Bureau of Statistics (NBS) said. The growth rate was 0.3% lower than a year earlier. NBS attributes the slower growth to the improved macro-economic regulations implemented by regions and departments at various levels in line with the requirement of the central government's efforts to sustain a healthy economic growth. China's primary industry rose 4.6% year on year to RMB 228.7 billion (around $27.6 billion) in the first quarter while secondary industry increased 11.3% to RMB 1.84 trillion (around $222 billion). NBS indicates that all these figures showed that China's economy had kept the momentum of stable and rapid growth on the whole.