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4/17, 5:48 AM (Source: TeleTrader.com)
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China's Q1 GDP increased 6.8% YoY

Chinese economy recorded a 6.8% growth in the first quarter of the year compared to the year before, beating estimates, the National Bureau of Statistics reported on Tuesday. The figure was unchanged from the previous fiscal period. The report noted an increase of 9.4% in the total value of imports and exports year-on-year, and a 21.8% decrease in China's trade surplus. The agricultural and industrial production were stable, while the service industry grew 8.1% from the same period last year.

"Generally speaking, the national economy in the first quarter has maintained the momentum of steady and sound development and favorable conditions to support the economy moving toward high quality development are increasing, which have laid a sound foundation for the stable and healthy economic development of the whole year," the report stated. However, it warned of international uncertainties as well as the "unbalanced and inadequate development in China" as possible destabilizing factors.

Breaking the News / DJ