Apr. 13, 2012 (China Knowledge) - China's gross domestic product grew 8.1% year on year in the first quarter of this year, according to latest statistics released by the National Bureau of Statistics
The GDP growth in the first quarter was lower than the market expectation of 8.4% and the 8.9% increase in the fourth quarter.
On a quarter-on-quarter basis, the country's GDP grew 1.8% from the fourth quarter of 2011.
In the first three months, China's GDP totaled about RMB10.08 trillion. The GDP included RMB 692.2 billion generated by the primary sector, 3.8% more than in the same period of 2011.
RMB 5.15 trillion and RMB 4.96 trillion were generated in the secondary sector and the tertiary sector, 9.1% and 7.5% more than in the first quarter of 2011, respectively.
Other macroeconomic figures released include China’s money supply and foreign reserves.
China, the world's largest holder of foreign exchange reserves, saw its foreign reserves reach US$3.31 trillion at the end of March this year, according to the latest statistics released by the People's Bank of China
The country’s M2, a broad measure of money supply, was RMB 89.56 trillion at the end of March, up 13.4% compared with a year ago. Its M1, which includes deposits in withdrawal-on-demand accounts and cash in circulation, had risen 4.4% year on year to RMB 27.80 trillion at the end of last month. M0, or cash in circulation, had increased 10.6% from a year earlier to RMB 4.96 trillion at the end of March.
Earlier, on Monday, China National Bureau of Statistics
reported the country’s consumer prices rose 3.6 percent from a year earlier. That was more than the median 3.4 percent estimate in a Bloomberg News survey of 33 economists. Food-related costs gained 7.5 percent.