China's economy grew 7.4 % in the first quarter of this year , better than many expected .
However, this figure is down from 7.7 % growth in the final quarter of last year ..
Other data released by the GDP figures showed industrial products rose 8.8 % in March from a year ago .
Retail trade in March rose 12.2 % , emphasizing the success of China's efforts to boost economic growth through domestic consumption .
Last year China sets 2014 economic growth target at 7.5 % , as part of the economic stabilization plan after rapid expansion over the years .
Chinese growth data monitored closely throughout the region .
Slowdown could hurt Asian economies , especially those that export commodities and industrial components to the world 's second largest economy .
Slow start in the beginning of the year is not foreign , because the Lunar New Year holidays when many businesses and factories closed for two weeks .
However, recent data from the assembly and industrial sectors showed weakness at the same time raises the fear continuous slowdown .BBC
No comments:
Post a Comment