PROSPEROUS INDUSTRY: A worker inspects the production line at Xinyuan Silk Group Co. Ltd. of Jiangsu Province (XU CONGJUN)	ENERGETIC INVESTMENT: A residential building project is under construction in Nantong, Jiangsu Province (XU CONGJUN)

The first standard is economic performance. In the first quarter the GDP grew 9.7 percent. The growth has remained between 9.5 percent and 10 percent for three consecutive quarters. The real economy has also shown a momentum of steady growth, with the growth of the added value of industrial enterprises above a designated size at about 14 percent for three consecutive quarters.

The second standard is employment. In the first quarter the employed population in China's urban areas increased by 4.63 million year on year, and the number of migrant workers increased 5.3 million from over a year ago. Sheng said these two indicators show that employment is increasing.

The third standard is the income of the government, enterprises and residents. In the first quarter the country's fiscal revenue increased by 33.1 percent year on year and the profits made by industrial enterprises above a designated size were up 34.3 percent from over a year ago, both increasing rapidly. Urban and rural residents' incomes increased steadily. In the first quarter, the real growth of the income of urban residents was 7.1 percent, allowing for price factors, and the real growth of the income of rural residents reached 14.3 percent on a yearly basis.

"From these indicators we can see that the country's overall economy performed well in the first quarter of this year," Sheng said.

On April 15, the NBS also published monthly growth figures for major economic indicators for the first time. In the first quarter the GDP grew 2.1 percent from the fourth quarter of 2010; in March the added value of industrial enterprises above a designated size was up 1.19 percent from February; in March the investment in fixed assets was up 1.73 percent month on month; and also in March the total retail sales of consumer goods increased by 1.34 percent over February figures.

"In the first quarter the four major economic indicators all showed positive growth, indicating that the overall economy is growing," said Lian Ping, chief economist at the Bank of Communications.

Major contributions

The most significant point of China's economic performance in the first quarter is the trade deficit, the first China has had in more than six years.

In the first quarter, according to the NBS figures, the total value of imports and exports was $800.3 billion, up 29.5 percent year on year. The value of exports was $399.64 billion, up 26.5 percent, and that of imports was $400.66 billion, up 32.6 percent, creating a trade deficit of $1.02 billion.

"The growth of imports was 6 percentage points higher than that of exports in the first quarter, which indicates the contributions of the Chinese economy to the recovery of the global economy are increasing," Sheng said.

After the global financial crisis, the rapid recovery and growth of the Chinese economy has arrested the attention of the international community. The Chinese economy has brought confidence to the world economic growth, and the expectations by the international community toward China's role have become greater. The marked increase of imports by China means growing exports and more job opportunities to related countries and will help drive up the economic growth in these countries, Sheng said.

"An important reason for the trade deficit is the Chinese economy has been performing well and internal demand is increasing," Sheng said.