4/16, 4:02 AM (Source: TeleTrader)
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China's GDP up 18.3% in first quarter

China's gross domestic product (GDP) soared 18.3% in the first quarter compared to the same period last year, the National Bureau of Statistics of China said in a preliminary report on Friday. Compared to the previous quarter, the GDP grew by 0.6%.

According to the report, the value added of the primary industry was up by 8.1% year-on-year, the secondary industry added 24.4%, and the tertiary increased by 15.6%. The office attributed the yearly GDP growth to "the low base figure of last year and increase of working days due to staff staying put during the Spring Festival." Meanwhile, the monthly rise "demonstrated a steady recovery of the national economy."

Breaking the News / DJ