China's GDP up 9.9 pct in Jan.-Sept. period
20/10/2008 16:22
China's gross domestic product (GDP) grew 9.9 percent year on year to
20.163 trillion yuan (US$2.96 trillion) in the first three quarters of this
year, the National Bureau of Statistics (NBS) said today.
The growth rate was
2.3 percentage points lower than the same period of last year, or 0.5 percentage
points lower than the first half of this year.
The GDP growth was 10.6
percent for the first quarter, 10.1 percent for the second quarter and 9 percent
for the third quarter, the bureau said.
NBS Chief Economist Yao Jingyuan told
Xinhua that the GDP growth for the January-September period was still higher
than the 9.8-percent average for the past three decades.
Given the ongoing
global economic slowdown, China's GDP growth for the first three quarters "is a
hard-earned achievement,"said Yao.
"It was achieved on the basis of the
current macro-control efforts,"he added.
The total GDP for the
January-September period included 2.18 trillion yuan generated by the primary
sector, up 4.5 percent, 10.11 trillion yuan by the secondary sector (including
manufacturing and construction), up 10.5 percent, and 7.87 trillion yuan by the
tertiary sector (mainly services), up 10.3 percent.
The growth rates for the
primary sector was 0.2 percentage points higher than the year-earlier level, but
that for the secondary and tertiary sectors were 3.0 percentage points and 2.4
percentage points lower respectively.
Li Xiaochao, the NBS spokesman, noted
that the 9.9 percent growth was achieved on a large economic
volume.
According to Li, the fundamentals of the Chinese economy remains
good. This is marked by the facts that the economic growth is stable and fast,
consumer prices continues to fall, industrial structure has optimized more or
less and that the quality of economic operation has improved.
From January to
September, fixed-asset investment amounted to 11.62 trillion yuan nationwide, up
27.0 percent on the same period of last year. The growth rate was 1.3 percentage
points higher.
The total included 9.987 trillion yuan in urban areas, up 27.6
percent, and 1.638 trillion yuan in rural areas, up 23.3 percent. The growth
rates were 1.2 percentage points and 2.1 percentage points, respectively, higher
than the year-earlier level.
Consumer price index, or CPI, went up 7.0
percent year-on-year in the first nine months. The growth rate was 2.9
percentage points higher than the year-ago level, but down 0.9 percentage points
from the first-half-year level.
The major inflation measurement was up 4.6
percent in September, 0.3 percentage points lower than the previous month. Its
rise rate has fallen for five consecutive months since May.
However, the
producer price index (PPI), which measures the value of finished products when
they leave the factory, rose 8.3 percent in the first nine months, said the
bureau. The growth rate was 5.6 percentage points higher than the same period
last year.
In September alone, the PPI rose 9.1 percent over the same month a
year earlier. The growth rate was one percentage point lower than the record
10.1 percent in August.
Li said the economic restructuring has proceeded
well. In the first three quarters, high-energy-consuming sectors realized an
output growth of 13.2 percent, down 6.4 percentage points, while the high-tech
manufacturing sector posted a growth of 16.5 percent in value-added output, 1.3
percentage points higher than the average for all major
manufacturers.
Meanwhile, western and central regions outperformed the
eastern areas in terms of production and investment growth, he added.
Between
January and August, industrial enterprises each with an annual sales income of
at least five million yuan chalked up a profit increase of 19.4 percent.
The
per-capita pure income of rural residents was 3,971 yuan, gaining 11 percent in
real-term, and the per-capita disposable income of urbanites was 11,865 yuan, up
7.5 percent in real-term, Li added.
Xinhua
|
