Q1 of China's GDP shows decline and inflation rising

   Apr 4, 1:05 pm

Beijing, Apr 3 (ANI): A senior Chinese government official has said the administration is focused on stable economic growth, even as the nation continues to face challenges. Zhang Xiaoqiang, Deputy Director of the National Development and Reform Commission, said that the GDP rate might have reduced down to 8.4percent which could affect the country's economic progress in this year.

The China Daily, quoted him, as saying, that the primary catalyst for inflation was the consumer's prince index which might increase to 3.5 percent year-on-year in the first quarter.

Speaking at a lunch session in Boao, Zhang said, "Stable growth has been set as the tone for 2012 by the government in the context of the uncertainties and challenges of the world economy."

A report relating on government work submitted by Premier Wen Jiabao last month has revealed that the country will track down its growth target in the year 2012 to an eight-year low of 7.5 percent and will hold the CPI target till about four percent.

Jiaboa, who was on three-day inspection trip to Guangxi Zhuang and Fujjan provinces, further said that inspite of the relapse of few major economic indicators, China's economic growth will not be hampered and confidence level must be continued in the country's economic activities as the government predicts the execution of its macro controls.

Zhang emphasized China will continue to develop its investment status and strengthen cooperation with other Asian countries.

Zeng Peng, Vice Chairman, Board of Directors Boao Forum Asia, said Asian countries need to come together to "play a positive role in global economic governance" and reflect Asia's common interests.

Montek Singh Ahluwalia, the deputy Chairman of India's Planning Commission, drew attention towards to global economic threats such as the eurozone debt crisis, currency risks and oil prices.(ANI)

Icertis Contract Management Goes Live at Chemonics Aug 31, 9:25 pm
Pune, Maharashtra, Aug. 31 (ANI): Icertis, the leading provider of enterprise contract management in the Microsoft Cloud, announced today that Chemonics has gone live with the Icertis Contract Management (ICM) Platform.
Full Story
BSE closes 109.29 points down, Nifty down 30.65 points Aug 31, 5:05 pm
Mumbai, Aug.31 (ANI): The Bombay Stock Exchange (BSE) closed 109.29 points down to stand at 26,283.09, while the National Stock Exchange (Nifty) closed 30.65 points down to stand at 7,971.30.
Full Story
Entrepreneurship workshop held for students in Kashmir Aug 31, 4:53 pm
Srinagar, Aug.31 (ANI): An entrepreneurship workshop was held at the Kashmir University here to draw students to learn more about trade and business, with an aim of furthering employment opportunities in the region.
Full Story
Chinese shares tumble amid intensified regulation Aug 31, 3:47 pm
Beijing, Aug. 31 (ANI): China's stock market saw a weak performance on Monday, ending last week's winning streak, as the government intensifies efforts to crack down on market manipulation.
Full Story
Comments

LATEST STORIES
TOP VIDEO STORIES
PHOTO GALLERY