China's New Lending May Overshoot Target

BEIJING, Apr. 7 -- The growth rate of China's gross domestic product in the first quarter this year will exceed 11%, the China Securities Journal reported, citing experts as saying.
Although the economic growth rate in the first quarter could reach as high as 12%, economic growth will decrease in the second quarter, predicted Fan Jianping, director of the Department of Economic Forecasting of the State Information Center of China.
In the first quarter, China's consumer price index increased 2.3% year on year. It increased by 2.6% in the month of March.
Credit grew less in March than in February. New loans totaled between RMB 500 billion and RMB 700 billion in March and exceeded RMB 2.6 trillion in the first quarter.
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