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China's economy soars 9.5% in 2004
www.chinaview.cn 2005-01-25 12:58:21

    BEIJING, Jan. 25 (Xinhuanet) -- China's gross domestic product totaled 13.65 trillion yuan (1.65 trillion US dollars) in 2004, a jump of 9.5 percent year on year, the National Bureau of Statistics (NBS) said here Tuesday.

    The robust economic picture was posted against the backdrop of substantial government efforts to cool down the economy, especially some red-hot sectors such as steel, cement, aluminum and real estate.

    Preliminary figures show that the added value of primary industry rose 6.3 percent to 2.07 trillion yuan (about 250 billionUS dollars) last year, the NBS said in a press release distributedat the Information Office of the State Council.

    That of secondary and tertiary industries rose 11.1 and 8.3 percent to 7.24 trillion yuan (874.4 billion dollars) and 4.34 trillion yuan (524.15 billion dollars), respectively, it added.

    NBS director Li Deshui told the press that China had scored "tangible" outcome in cementing and improving macro-control and curbed "unhealthy and unstable" factors in its economic development.

    The Chinese national economy maintained a stable and relatively-fast growth trend, awarding off a roller-coaster, he noted.

    China recorded 6.28 trillion yuan (766 billion dollars) in its overall added industrial value last year, increasing an annualized11.5 percent and remaining the biggest contributor to economic expansion.

    Major industrial enterprises, or firms whose annual sales revenues exceeding 5 million yuan (609,000 dollars), registered a 16.7 percent rise in its added value in the past year, down slightly from the previous year.

    Coal output went up 15 percent, while power output was up 14.9 percent. Aggregate product of pig iron, crude steel, rolled steel rose 24.1 percent, 32.2 percent and 23.5 percent, respectively. The automobile sector churned out 5.2 million units of motor vehicle.

    According to Li, total profits for China's industrial sector stood at 1.13 trillion yuan (138.3 billion dollars ), up 38.1 percent.

    Investment in fixed assets totaled 7.01 trillion yuan (about 854.5 billion dollars), up 25.8 percent year-on-year, or a drop of1.9 percentage points from the previous year.

    Consumer spending remained stable but showed invigorating signsin China last year, with the combined retail sales volume growing 13.3 percent year on year to 5.4 trillion yuan (652.17 billion dollars) in 2004. It climbed 10.2 percent after deducting price hikes, 1 percentage point higher on a yearly basis.

    Urban and rural retail sales rose 14.7 and 10.7 percent, respectively.

    Typically, per-capita net income of rural residents rose 6.8 percent last year to 2,936 yuan (355 dollars), the strongest growth in the past seven years since 1997.

    Per-capita disposable income of urban residents reached 9,422 yuan (1140 dollars), a net rise of 7.7 percent.

    By the end of 2004, the saving deposit of urban and rural population totaled more than 11.95 trillion yuan (approximately 1.44 trillion dollars), an increase of 1.59 trillion yuan (192.6 billion dollars) over the end of 2003.

    Last year, the number of the newly employed reached 9.8 millionamong the urban residents, 800,000 more than the anticipated goal.As a result, the urban registered unemployment rate dropped to 4.2percent at the end of 2004, down 0.1 percent from a year ago.

    China's total grain output in 2004 reached 469.5 million tons, a hefty increase of 38.8 million tons or 9.0 percent over the previous year.

    Both total grain production and average yield of cereals crops in 2004 were an all time high. Average per-hectare grain yield was4,620 kilograms, up 6.6 percent.

    Total cotton production reached 6.32 million tons, up 30 percent; oil-bearing seeds output was 30.57 million tons, up 8.8 percent; output of sugar-bearing crops was 95.28 million tons, down by 1.2 percent; total meat output was 72.60 million tons, up 4.7 percent; and the output of aquatic products amounted to 48.55 million tons, up 3.2 percent. Enditem


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