Chinese economy grows by 10%

Posted by Bhumika Ghimire Apr 18, 2006

According to Indiatimes.com, the Chinese economy grew by 10% in first quarter of this year (2006), far ahead of its targeted 8% growth for the whole year.

The report says that, "China's total trade surplus stood at $23.3 bn for the first three months of this year with total foreign trade volume touching $371.3 bn. China's export volume grew by 26.6 per cent year on year to $197.3 bn during January to March, while imports were worth $174 bn, up 24.8 per cent from a year ago. China saw a record high monthly trade volume of $144.9 bn in March, an increase of 24.9 per cent year on year. "

The government has been reported as saying it is not concentrating on rapid growth, but is looking to have a sustainable growth rate and bring up the living standard.