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Experts divided over first quarter figures

www.chinanews.cn 2005-04-21 09:09:16

(Source: China Daily)

BEIJING, April 21 - China's economy grew 9.5 per cent year-on-year during
the first quarter of this year, the National Bureau of Statistics said in
Beijing yesterday.
Bureau Spokesman Zheng Jingping said the nation's first quarter gross
domestic product of 3.14 trillion yuan (US.8 billion) marked a good start
to the year.
However, Zhuang Jian, a senior economist with the Asian Development Bank,
said first quarter economic growth was "a little bit high."
It suggests the nation's economy has not yet achieved a soft landing, he
said.
The Chinese Government has taken a raft of macro-control measures since
the second half of 2003, such as lending limits on banks and bans on some
new fixed asset projects, to cool the over heating economy.
"The central bank has a possibility to further raise interest rates,"
Zhuang said.

E-mail: zhangqinghua@chinanews.com.cn Tel: 8610-88387443 Fax:
8610-68327649

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