Growth Soared Above Government Targets, Beijing Says: Economic growth and prices both soared in the first half of 1993, the government said, underlining the tough task officials face to bring order to China's fast-expanding economy. Economic output increased at an annual rate of 13.9%, far faster than the 8% target set by Premier Li Peng earlier this year. Cost of living rose 12.5% nationwide from the first six months of 1992 and climbed 17.4% in the major cities, the State Statistical Bureau said. Inflation appeared to be worsening, with the June cost of living in 35 major cities 21.6% higher than a year earlier, the SSB said.
From Times Staff and Wire Reports
Copyright © 2019, Los Angeles Times