BEIJING, April 27 (Xinhua) -- China's economic watchdog is moving to slow economic growth after recording a rise in fixed assets investment of almost 30 percent in the first quarter.

    The National Development and Reform Commission (NDRC) has urgedlocal governments to tighten controls on land use and lending to prevent investment rising too rapidly.

    National Bureau of Statistics figures show investment in roads, factory equipment and other fixed assets grew 27.7 percent, an increase of 4.9 percentage points year on year.

    The government has launching the "socialist new countryside" campaign to boost rural development, which was left behind in the reform and opening-up drive of the past two decades.

    However, more than half of China's provinces recorded alarming growth rates or more than 35 percent in investment, and 16 manufacturing industries reported more than 40 percent. Full Story

Industrial watchdog predicts steel price will continue to rise

    NDRC predict that steel prices will keep rising steadily in the second quarter of this year.

    A report conducted by the Price Monitoring Center of NDRC said steel prices in the domestic market witnessed a slight drop before a steady increase in the first quarter of this year.

    The report said the price of panel steel rose to 5,895 yuan per ton at the end of March, up 8 percent on the early part of this year. Full Story

China's GDP in first quarter grows 10.2%

BEIJING, April 20 (Xinhua) -- China's economy soared by a stunning 10.2 percent in the first quarter of this year, fueled by strong investment, a government spokesman said here on Thursday while fanning away worries that the economy might be overheated. Full Story>>>