Preliminary figures show that China?s gross domestic product (GDP) in 2001 will for the first time top 9 trillion yuan (US$1.08 billion). An expected GDP of 9.58 trillion yuan (US$1.15 trillion) will make China the sixth biggest economy in the world. Major economic statistics for China in the year 2001 covering national revenue, foreign reserve and other economic indexes were also released in the report that follows:
GDP: China?s gross domestic product (GDP) in 2001 will top 9 trillion yuan (US$1.08 billion) for the first time, according to concerned departments. A GDP of 9.58 trillion yuan (US$1.15 trillion) will make China the sixth biggest economy in the world.
National Revenue: The national revenue in 2001 will for the first time exceed 200 billion yuan (US$24.1 billion). Value-added tax have recorded a growth of 78.4 billion yuan (US$9.46 billion), the fastest ever growth since 1994. The national financial revenue of more than 1.4 trillion yuan (US$168.9 billion) was a 20 percent increase compared to that of 2000.
Foreign Reserve: According to authoritative economic department statistics, China?s foreign reserve has for the first time climbed to over US$200 billion. China now has a big foreign reserve to cover both future risks and development.
Food Production: Though agriculture was hit by serious natural disasters in the year 2001, China managed to keep increasing its food reserve. According to authoritative economic department statistics, China managed to produce over 45 billion tons of food and to build stronger food reserves for its largest population in the world.
Citizens? Deposit: As the national economy develops, citizens gain more income and their living standards improve. It is estimated that urban citizens? average income increased 8.2 percent over that of 2000, a 1.8-percent growth based on average 2000 income growth. Rural citizens also gained 4 percent in their net income, up by 1.9 percentage points. Bank deposit balances went beyond 7 trillion yuan for the first time, 800 billion yuan up from the beginning of 2001.
Treasury Bonds: The state has issued 150 billion yuan (US$18.1 billion) in bonds to launch key projects like the Qinghai-Tibet Railway and the West-to-East electrical power lines and West-to-East natural gas pipelines projects. Fixed assets investment surpassed 2 trillion yuan (US$241.3 billion), a 16-percent increase from that of 2000. Real estate investment achieved a super-fast growth of around 30 percent.
Foreign Direct Investment: In a global recession, China enjoyed a sound economic outlook and attracted many foreign investors. Over US$100 million on average per day poured into Chinese economy in 2001. It is estimated that foreign direct investment will add up to US$470 million in 2001.
Car Sales: Over 200 million car were sold in 2001, the fastest growth -- 16 percent -- in recent years. Two other statistics also should be noted: Nearly 60 percent of cars sold were sedans and mini cars, and most cars were bought by private consumers. In Beijing for instance, private purchases account for nearly 80 percent of all car sales. In the Beijing Asian Games village car exchange market, for the first time, over 50 percent of the Red Flag sedans, sedans used by several generations of national leaders and in recent decades purchased mainly by the state, in 2001 were bought by private customers.
Food Production Acreage: The year 2000 witnessed a big reduce in food growing acreage that conspired to less food output. But lands for planting special-quality wheat were expanded to over 20 million mu (1.3 million hectares).
Electronic Devices: Microwave communication devices, photon communication devices, programming switchboards, mobile phones, computers and other electronic and communication devices recorded an output growth ranging from 20 percent to 130 percent.
Coal Industry: An industry that was staggering now writes off deficits and gets profits. It is estimated that coal industry will reach its highest export in history -- 85 million tons, or 27 million tons up than the previous year.
Foreign Trade: According to the General Administration of Customs, total foreign trade volume amounted to US$509.77 billion in 2001, an increase of 7.5 percent from the previous year. Exports were valued up 6.8 percent at US$266.16 billion and imports up 8.2 percent at US$243.61 with a US$22.55 billion favorable balance.
(Xinhua News Agency, January 3, 2002, translated for China.org.cn by Alex Xu)
