China's economy grows at 9.4%, exceeding expectations

Bloomberg reports that China's economy grew 9.4% versus prior year, which was more than expected.  The Chinese economy grew by 9.5% in the prior quarter.  Growth has been fueled by demand for cell phones, restaurant meals and travel.  Speaking of cell phones, look at our recent report on surging stock China Techfaith Wireless (CNTF).

Stating the obvious:  Most companies would be happy to see revenue growth of 9-10% each year, so it's impressive that to see the GDP of a country with 1.3 billion people (each of who is also seeing their incomes rise 9-10% each year on average).