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Latest Business News

Chinese Economy Grows Faster Than Expected

Sunday, April 16, 2006 2:42:25 PM
By ALEXA OLESEN

Chinese President Hu Jintao waves as he walks past Chinese and Taiwanese officials gathered for a photo session with  Lien Chan, former Chairman of the Taiwan's Nationalists party (unseen) at the Great Hall of the People in Beijing, China, Sunday, April 16, 2006.  Beijing is trying to isolate Taiwanese President Chen Shui-bian by forging ties with his political opposition and offering trade concessions to appeal to Taiwan's farmers. The two sides split amid civil war in 1949 and have no official relations, but China claims Taiwan as part of its territory. (AP Photo/Ng Han Guan)BEIJING (AP) - Chinese President Hu Jintao announced Sunday that China's economy grew faster than expected in the first quarter of the year, heightening concerns that the breakneck expansion could spark inflation and drain environmental resources.

Hu said the economy grew a stunning 10.2 percent in the first three months of this year compared with the same period last year, well above previous estimates.

Hu's announcement came just days before he heads to the United States for talks with President Bush that are likely to focus on Washington's record $202 billion trade deficit with Beijing.


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