Institutions revise GDP forecasts upwards

Pushed by stronger than expected economic figures, a number of international institutions have revised China's GDP growth forecast, state media reported. Just about every economic indicator has exceeded the results from the same period last year during the first two months of 2007. "The country's GDP growth in the first quarter will be faster than in the equivalent period last year and also that of the previous quarter," said Chen Dongqi, deputy director of the Institute of Economic Research of the National Development and Reform Commission. The State Information Center has hiked its GDP growth forecast to 11%, up from 10.2%, despite a number of tightening measures adopted at the end of last year and in the first three months of 2007.