China posts forecast-beating growth in first quarter [Yahoo! Finance]
COUNTRY GARDEN HL UNS/ADR (CTRYY)
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Source: Yahoo! Finance
Beijing has set a target of around five percent growth for the year, a goal officials last month admitted would "not be easy" and which analysts said was ambitious given the headwinds the country is confronting. For January-March, gross domestic product rose 5.3 percent, compared with 5.2 in the previous quarter, the National Bureau of Statistics said. The figures well exceeded analysts' expectations, with those pooled by Bloomberg having estimated the figure to come in at 4.8 percent. "The national economy continued the good momentum of a rebound," the NBS said, calling it a "good start". The GDP data remains a key insight into the health of the world's second-largest economy, despite being eminently political. And Tuesday's figures "beat the market expectation by a wide margin", Dan Wang, chief economist at Hang Seng Bank China, told AFP. "Consumption and housing investment was the main drag, while manufacturing and infrastructure were the main engines," she said. It
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