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 | Monday, April 17, 2000, updated at 15:04(GMT+8) | ||||||||||||
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Chinese Economy Rises 8.1 Percent in First QuarterThe Chinese economy has continued to enjoy healthy growth, with the first quarter's GDP rising 8.1 percent over the same period last year, said Li Rongrong, vice minister of the State Economic and Trade Commission on Sunday.Li said that China's industry saw a rise of 10.7 percent in added value. Investments rose by 8.5 percent while consumption chalked up by 10.4 percent. China's export surged by 39.1 percent. Meanwhile, China's industry enjoyed marked improvement with Jan-Feb profits increasing 1.8 fold over the corresponding period last year. The state sector's profit soared by 7.7 fold. Li made the remarks at the opening ceremony of China Business Summit 2000 in Beijing. The meeting was sponsored by the World Economic Forum and the China Enterprise Confederation. Li said that to maintain rapid economic growth is crucial in resolving problems and obstacles in developing China's economy. He added that China will continue to adopt pro-active fiscal policies by issuing 100 billion yuan in state debentures for infrastructure projects, environmental protection as well as technical upgrading in enterprises. The official said that while discarding policies and regulations restricting consumption, China will work on a set of measures to encourage investments and exports. China will also spend more efforts in opening up the western regions. China's economy rose 7.1 percent last year, with the industrial growth topping 8.5 percent.
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