China's economy grew at its weakest pace in nearly three years in the first quarter of 2012, with the annual rate of expansion slowing to 8.1 percent from 8.9 percent in the previous three months, the National Bureau of Statistics said on Friday.
The other indicators published on Friday showed March industrial output expanded 11.9 percent, March retail sales rose 15.2 percent and quarterly fixed asset investment, one of the principal drivers of China's economy, grew 20.9 percent.
The following comments are from NBS spokesman, Sheng Laiyun.
ON ECONOMIC GROWTH
"Although China's growth has slowed, the economy is still growing steadily and overall it's in good shape."
"The momentum for growth in this year is not low, and we are confident that we can maintain relatively fast economic growth in this year."
"Whether economic growth has hit the bottom in the first quarter, or when growth will hit bottom, in the first quarter or the second quarter, is not important. The important thing is we are pursuing high-quality growth."
ON INFLATION
"From a whole-year point of view, we still have many favorable conditions to keep prices stable.
"But we can't be too relaxed over inflation. Some underlying factors, like cost-driven price rises and imported inflation, have not erased and some pressures are relatively big. We still need to be alert of future inflation."
ON REAL ESTATE
"To prevent the formation of bubbles in China's property market, as in the Japanese property market in 1980s, we have enhanced property control efforts.
"At present, our property market control, I should say, is achieving positive results."
