China unveiled restrictions on property speculation yesterday as economic growth accelerated to 11.9 per cent in the first quarter from the same period last year.
The latest data underlined the country’s rapid recovery from the global economic crisis but raised questions about the risks of overheating.
The economy expanded at its fastest in nearly three years – and more quickly than economists had expected – putting fresh pressure on the authorities to consider tougher tightening measures, including appreciating the exchange rate and interest rate rises.
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