Official figures show that China's economy grew by 11.4% in 2007, the fastest pace in 13 years. But the Chinese government warned that more needed to be done to address the rising threat of inflation.
The country recorded a fifth consecutive year of double-digit growth, with inflation at an 11-year high, the National Bureau of Statistics said, admitting that overheating remained a threat.
The annual growth rate in the fourth quarter of 2007 was 11.2%, a slight moderation from 11.5% in the third quarter. Growth in Asia's second-largest economy was boosted by record exports and massive spending on infrastructure.
The bureau confirmed previously released statistics which showed the trade surplus last year soared 47.7% to $262.2 billion. Investment in fixed assets, covering everything from bridges to new equipment in factories, rose 24.8%.
The rapid expansion came despite government efforts to cool the economy, including six interest rate hikes in 2007. The statistics bureau said inflation last year had struck 4.8%, the steepest increase in 11 years. Inflation has been fuelled mainly by a spike in food prices.
