Lex: China property

The Chinese economy grew at 11.9 per cent in the first quarter from a year ago, underlining the rapid recovery from the global economic crisis but raising fresh questions about the risks of overheating. The economy grew at its fastest rate in nearly three years and more quickly than economists had expected. The pace of growth puts new pressure on Beijing to consider tougher tightening measures, including appreciation in the exchange rate and increasing interest rates. Ben McLannahan analyses the main driver of GDP growth.