China’s economy grows faster than expected, expanding by 6.8 pct in 1Q

The Chinese economy grew by 6.8 percent in the first quarter of this year, exceeding the Government’s 6.5-percent target for the whole year.

Data released on Tuesday by the National Bureau of Statistics of China shows that economic growth has been within a range between 6.7 percent and 6.9 percent for 11 consecutive quarters.

The Government-run Xinhua news agency quoted bureau spokesman Xing Zhihong as saying the figure for the first quarter had laid a good foundation for a sustained, healthy growth for the entire year.

The bureau says household consumption and the provision of services had played a bigger role in driving first-quarter growth and that incomes had steadily increased. Businesses have continued to grow and corporate profits were improved, Mr Xing was quoted as saying.