Foreign Property News | Posted by Zarni Kyaw
The Chinese economy expanded 6.4 percent year on year in the first quarter of this year, official data showed Wednesday.
China's GDP reached 21.343 trillion yuan (US$3.18 trillion) in the first three months of 2019, and the growth pace was the same as that of Q4 2018, the National Bureau of Statistics (NBS) said in a statement.
The tertiary sector reported the strongest growth in added value by expanding 7 percent to reach 12.232 trillion yuan, which accounted for 57.3 percent of the total Q1 GDP, picking up by 0.6 percentage points compared with Q1 2018.
The industrial and agricultural sectors saw their added value grow 6.1 percent and 2.7 percent respectively.
Fixed-asset investment
China continued to see faster growth in fixed-asset investment in the first quarter of 2019, official data showed Wednesday.
FAI grew 6.3 percent year on year in Q1, 0.2 percentage points faster than the first two months of 2019 and 0.4 percentage points faster than the whole year of 2018, according to the National Bureau of Statistics.
The FAI in Q1 amounted to 10.187 trillion yuan (US$1.5 trillion), according to the NBS.
Private investment, accounting for around 60 percent of the total FAI, posted a 6.4-percent year-on-year increase, also outpacing the overall growth, the NBS data showed.
Wednesday's data also showed steady expansion in the broader economy, as the country's GDP grew 6.4 percent year on year in Q1, level with that of Q4 2018 and within the government annual target of 6-6.5 percent.
Ref: Property Report
