- Title: China Q1 GDP grows faster than expected 6.9 pct, steel output hits record
- Date: 17th April 2017
- Summary: BEIJING, CHINA (APRIL 17, 2017) (REUTERS) NATIONAL BUREAU OF STATISTICS SPOKESMAN, MAO SHENGYONG, AND STATE COUNCIL INFORMATION OFFICE SPOKESWOMAN GONG YANCHUN WALKING IN FOR BRIEFING AND TAKING SEATS MEDIA (SOUNDBITE) (Mandarin) CHINA'S NATIONAL BUREAU OF STATISTICS SPOKESMAN, MAO SHENGYONG, SAYING: "Based on preliminary calculation, the gross domestic product (GDP) in the first quarter is 18.0683 trillion yuan ($2.62 trillion), up by 6.9 percent from a year earlier if calculated at comparable price. From industrial perspective, the primary industry value added 865.4 billion yuan, up by 3 percent year on year; the secondary industry value added 7.0005 trillion, up by 6.4 percent year on year, while the tertiary industry value added 10.2024 trillion yuan, up by 7.7 percent. The GDP grew 1.3 percent in the first quarter compared with the previous month." MEDIA (SOUNDBITE) (Mandarin) CHINA'S NATIONAL BUREAU OF STATISTICS SPOKESMAN, MAO SHENGYONG, SAYING: "In the first quarter, real estate investment across the country was 1.9292 trillion yuan, up by 9.1 percent year on year. The growth accelerated by 2.2 percent compared with the full-year growth last year and by 0.2 percent compared with the growth from January to February this year." MEDIA (SOUNDBITE) (Mandarin) CHINA'S NATIONAL BUREAU OF STATISTICS SPOKESMAN, MAO SHENGYONG, SAYING: "Especially the speed of growth of industrial enterprises above a designated size, it was 6.8 (percent) in the first quarter, up by one percent year on year. In particular, the growth was 7.6 percent in March." BRIEFING IN PROGRESS
- Embargoed: 1st May 2017 06:30
- Keywords: China economy GDP growth expected steel
- Location: BEIJING, CHINA
- City: BEIJING, CHINA
- Country: China
- Topics: Economic Events
- Reuters ID: LVA0016CSDYML
- Aspect Ratio: 16:9
- Story Text: China's economy grew 6.9 percent in the first quarter from a year earlier, slightly faster than expected, supported by a government infrastructure spending spree and a frenzied housing market that is showing signs of overheating.
Real estate investment growth accelerated to 9.1 percent in the first quarter from a year earlier, as the pace of new construction starts quickened despite intensified government cooling measures.
Industrial output rose 7.6 percent in March, with steel output the highest on record, according to Reuters data, adding to evidence of a global manufacturing revival that is buoying prices of industrial materials from iron ore to coking coal.
China's National Bureau of Statistics spokesman Mao Shengyong told media on Monday (April 17) that the speed of growth of industrial enterprises above a designated size was 6.8 percent in the first quarter.
Industrial enterprises above a designated size refers to those with the annual sales revenue of over 20 million yuan ($3 million).
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