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China economy registers 7.8% growth in first half of 2002
Beijing, July 15: China`s economy grew at a `better than expected` rate of 7.8 per cent during the first half of this year and is well on track to achieve a seven per cent growth this year, the national bureau of statistics said here today.
Beijing, July 15: China's economy grew at a "better than expected" rate of 7.8 per cent during the first half of this year and is well on track to achieve a seven per cent growth this year, the national bureau of statistics said here
today.
"The better than expected growth of the Chinese economy is due to the steady recovery of the world economy, pro-active fiscal and monetary polices and soaring foreign trade, capital investment, domestic demand," NBS deputy director Qiu Xiaohua told reporters here. China's Gross Domestic Product (GDP) reached 4,553.6 billion yuan (551 billion US dollars) during January-June this year, up 7.8 per cent on a yearly basis, he said while pointing out that the fastest developing country's economy grew at 7.6 per cent and 8 per cent in the first and second quarter of this year, respectively. "With good macroeconomic development in the first half of the year, achieving the government's full-year growth target of seven per cent shouldn't be a problem," Qiu said while commenting on the prospects for the second half of 2002. Qiu attributed the growth to three key factors- consumption, investment and exports. He said that China's fixed assets investment in the first half of this year amounted to 1,446.2 billion yuan (175 billion US dollars), a rise of 21.5 per cent over the same period of last year. Bureau Report
"The better than expected growth of the Chinese economy is due to the steady recovery of the world economy, pro-active fiscal and monetary polices and soaring foreign trade, capital investment, domestic demand," NBS deputy director Qiu Xiaohua told reporters here. China's Gross Domestic Product (GDP) reached 4,553.6 billion yuan (551 billion US dollars) during January-June this year, up 7.8 per cent on a yearly basis, he said while pointing out that the fastest developing country's economy grew at 7.6 per cent and 8 per cent in the first and second quarter of this year, respectively. "With good macroeconomic development in the first half of the year, achieving the government's full-year growth target of seven per cent shouldn't be a problem," Qiu said while commenting on the prospects for the second half of 2002. Qiu attributed the growth to three key factors- consumption, investment and exports. He said that China's fixed assets investment in the first half of this year amounted to 1,446.2 billion yuan (175 billion US dollars), a rise of 21.5 per cent over the same period of last year. Bureau Report