Chinese Growth Hits 13-Year High |
| Forbes - Jan 24, 2008 |
China's economy expanded 11.4% in 2007, the fastest pace of growth in 13 years.
The country's gross domestic product rose to 24.7 trillion yuan ($3.4 trillion) in 2007 from 22.1 trillion yuan ($3.1 trillion) in 2006, the National Bureau of Statistics said Thursday.
It was the fifth consecutive year that the economy has grown over 10%, and the strongest growth since 1994.
In the three months ending in December, Chinese growth slowed slightly to an 11.2% pace from 11.5% in the previous quarter. With growth torrid, the country is grappling with high inflation and asset price bubbles driven by a double-digit increase in exports and a surge in foreign direct investment in real estate and other assets
Read Full Article from Forbes
- Posted: 2008-01-24 09:45:43
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