Strong exports big part of China's first quarter growth: economist

16:40, April 19, 2010      

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A strong rebound in exports played a big part in China's 11.9 percent year-on-year economic growth in the first quarter, said an economist of a government think tank.

Zhang Liqun, a researcher with the State Council's Development Research Center, said the 28.7 percent year-on-year growth in exports had contributed more than 3.44 percentage points to China's GDP growth in the first quarter in a written article published on the China Securities Journal Monday.

While exports in the corresponding period last year dragged down growth by 3.35 percentage points.

The role domestic demand played in boosting economic growth dropped in the first quarter of this year.

Zhang said domestic demand, which includes consumption and investment, contributed 8.46 percentage points to China's 11.9 percent GDP growth in the first quarter. This is compared to 9.45 percentage points in the corresponding period last year.

Zhang said the country's economy was not yet on a path of sustainable growth as domestic demand still largely relied on government incentives.

Stable and relatively faster growth was not a certainty as exports growth was unlikely to maintain the speed of the first quarter, he added.

Zhang said China needs to expand consumption demand by readjusting income distribution and stepping up urbanization. Economic restructuring and a change of growth model at the same time should be promoted for longer-term sustainable growth.

Source: Xinhua


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