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China's GDP up 9.5% in first quarter

www.chinanews.cn 2005-04-21 13:27:20

Chinanews, Beijing, April 20(By Wang Yongzhi) - According to preliminary
calculations, China's gross domestic product (GDP) was 3.1355 billion RMB
in the first quarter of this year, up 9.5% year-on-year and three
percentage points lower than that of the same period last year. Zheng
Jingping, spokesman of the National Bureau of Statistics and director of
the Department of Comprehensive Statistics, stated that the national
economy achieved a good start in the first quarter.
At the press conference held by the Information Office of the State
Council, Zheng said that China's national economy maintained steady and
rapid growth in the first quarter. In particular, value-added in the
primary sector was up 4.6% to 228.7 billion yuan, and agricultural
production also grew well. Value-added in the secondary sector was up
11.3% to 1.8366 trillion yuan and that in the tertiary sector was up 7.6%
to 1.0702 trillion yuan.
The market price of products went up steadily. In the first quarter, the
overall national consumer price rose 2.8% year-on-year, an acceptable
level for residents. In addition, urban and rural residents' incomes held
rapid growth.
Exports continued to increase rapidly and foreign direct investment kept
on the rise. In the first quarter, the total value of imports and exports
shot up 23.1% year-on-year to 295.2 billion US dollars, with a surplus of
16.6 billion US dollars. By the end of March, national foreign exchange
reserves reached 659.1 billion US dollars, increasing 49.2 billion US
dollars over the end of last year.

          ��Experts divided over first quarter figures (2005-04-21)
          ��China is entering a post-GDP era (2005-03-09)

E-mail: zhangqinghua@chinanews.com.cn Tel: 8610-88387443 Fax:
8610-68327649

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