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China revises 2012 GDP

Last Updated: Wednesday, January 8, 2014 - 19:18

Beijing: China, the world's second largest economy, has revised its GDP growth rate for 2012 to USD 8.52 trillion while the growth in terms of percentage remains the same at 7.7 per cent.

The country's growth was revised upward to 51.947 trillion yuan (USD 8.52 trillion), 52.8 billion yuan higher than preliminary figures for 2012 released earlier.

The revised GDP growth remains unchanged at 7.7 per cent, the National Bureau of Statistics (NBS) said in a statement here today.

USD 8.52 trillion will be the final GDP reading for 2012 according to a three-step publication procedure with more detailed data, state-run Xinhua news agency reported.

China's economic growth for 2014 will stay about 7.5 per cent, a state-run think tank report has said.

According to the report, 60 per cent of economists interviewed forecast that China's 2014 GDP growth will stay at about 7.5 per cent.

The report was published by the Institute of Industrial Economics of the Chinese Academy of Social Sciences (CASS) today.

In December 2013, 111 Chinese economists were surveyed for the report, including 16 per cent from the CASS and 65 per cent from universities.

About 48 per cent of the economists believed local governments have difficulties in paying off their debts, while the rest said they are capable of paying off debt.

China will publicise its economic performance on January 20. The country set its 2013 growth rate target at 7.5 per cent.

First Published: Wednesday, January 8, 2014 - 19:18
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