Posted by: mulrickillion | January 19, 2012

China’s GDP Up 9.2% in 2011

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Economic Observer News, Jan 17, 2012 —

Summary: China’s gross domestic product (GDP) registered a year-on-year increase of 9.2 percent reaching 47.16 trillion yuan (approximately 7 trillion US dollars) over the course of 2011, the National Bureau of Statistics (NBS) announced earlier this morning.

China’s gross domestic product (GDP) registered a year-on-year increase of 9.2 percent reaching 47.16 trillion yuan (approximately 7 trillion US dollars) over the course of 2011, the National Bureau of Statistics (NBS) announced earlier this morning.

The growth rate was 1.1 percentage points lower than that registered last year, according to Ma Jiantang, the Commissioner of the NBS, who read the bureau’s report on the 2011 economic figures at an official press conference in Beijing.

China’s GDP grew 8.9 percent in the final quarter of this year when compared to the fourth quarter of 2010, lower than its third quarter growth rate of 9.1 percent.

Earlier this year, the government had set its annual economic growth target at around 8 percent for 2011.

The NBS also revealed data on the country’s industrial output, investment, consumption and trade.

China’s industrial value-added output was up 13.9 in 2011, when compared to the annual figure for 2010, a 1.4 percentage point decrease on the pace of growth registered in 2010, the NBS said.

In addition, the profits of large-scale industrial enterprises expanded 24.4 percent from a year earlier to reach 4.66 trillion yuan in the first eleven months of the year.

China’s fixed-asset investment rose 23.8 percent from a year earlier to reach 27.81 trillion yuan (4.22 trillion US dollars).

Urban fixed-asset investment rose to 30.19 trillion yuan, up 23.8 percent from a year earlier (or 16.1 percent if you take price factors into account). Investment in real estate climbed 27.9 percent over the course of 2011, reaching a total of 6.17 trillion yuan, 5.3 percentage points lower than the rate of growth recorded in 2010.

Last week, China’s statistics bureau also released updated numbers for the country’s consumer price index (CPI).

China’s CPI rose 4.1 percent in December from a year earlier, 0.1 percentage points lower the 4.2 percent increase registered in November.

The inflation rate stood at 5.4 percent for the full year, which was well above the 4 percent target for the year set by the government in early March.

The producer price index (PPI), another measure of inflation at the wholesale level, registered a year-on-year increase of 9.1 percent over the course of the year.

Links and Sources
National Bureau of Statistics:
2011 Economic Figures

China’s GDP Up 9.2% in 2011 – Economic Observer News- China business, politics, law, and social issues

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