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)

Sony PS4 beats Xbox One' sales by 2Mln consoles during March Apr 18, 2:36 pm
Washington, Apr 18. (ANI): Sony's latest addition to its gaming section, PS4 has surpassed its rival Xbox One's sales by a sizeable difference.
Full Story
India's software market grew at 10pc in 2013: Research Apr 17, 4:13 pm
Washington, Apr 17 (ANI): India's software revenue grossed 4.76 billion dollars in 2013, a 10 percentile increase from 2012 revenue of 4.334 billion dollars, research firm Gartner has revealed.
Full Story
Sony's PS4 console sales cross 7-mln mark globally Apr 17, 2:45 pm
Washington, Apr. 17 (ANI): Sony's PlayStation 4 console has reportedly hit another milestone passing the 7 million units sold worldwide nearly a month after the company announced that it had sold 6 million units.
Full Story
Yahoo co-founder David Filo nominated for company's new board member Apr 17, 2:45 pm
Washington, Apr. 17 (ANI): Yahoo co-founder and 'Chief Yahoo' David Filo has reportedly been nominated to return back to the company's board of directors after an absence of 18 years.
Full Story
Comments

LATEST STORIES
TOP VIDEO STORIES
PHOTO GALLERY