Statistics Bureau: Last year, China's GDP was nearly 40 trillion, a year-on-year increase of 10.3%
Release Time:
2011-03-01 19:07
Source:
The Beijing News
The National Bureau of Statistics released the "2010 National Economic and Social Development Statistical Bulletin" yesterday. The bulletin shows that China accelerated the transformation of its economic development mode and strategic adjustment of economic structure last year. The national economy maintained steady and rapid growth, and various social undertakings made new progress. The annual GDP was 39,798.3 billion yuan, an increase of 10.3% over the previous year; CPI rose by 3.3% compared to the previous year; grain output was 546.41 million tons, an increase of 15.59 million tons over the previous year, reaching a historic high; energy consumption per 10,000 yuan of GDP dropped by 4.01%; the total population at the end of the year was 1.341 billion.
This bulletin contains more than ten thousand words and, with a large amount of data and charts, is divided into twelve parts: comprehensive, agriculture, industry and construction, population and people's livelihood and social security, as well as resources, environment, and production safety, detailing the status of national economic and social development in 2010.
GDP
Economic operation shifted from decline to stabilization
Concerns about sustaining growth in the first three quarters; inflation expectations posed challenges in the fourth quarter
The "Statistical Bulletin" shows that last year China's GDP reached 39,798.3 billion yuan, an increase of 10.3% over the previous year. The national economy achieved steady and rapid growth, with GDP growth rate significantly faster than major countries or regions worldwide.
[Interpretation] Xie Hongguang (Deputy Director of the National Bureau of Statistics): Last year's steady and rapid economic growth in China was achieved amid a very complex domestic and international economic environment. Internationally, the European debt crisis recurred repeatedly, concerns about a second global economic downturn never ceased, and the US economic recovery was far from expectations due to persistently high unemployment and sluggish consumption. The path to global economic recovery was difficult, tortuous, and slow.
He said that in the first three quarters, economic growth declined quarter by quarter, raising concerns about whether growth could be sustained. After September, prices suddenly accelerated, triggering persistent inflation expectations, posing a huge challenge to macroeconomic stability. Under a series of policy adjustments, the national economy continuously consolidated its recovery and improvement from 2009, with economic operation shifting from decline to stabilization. GDP growth rates for the four quarters were 11.9%, 10.3%, 9.6%, and 9.8% year-on-year, respectively.
Prices
Another bumper grain harvest supports price stability
Annual CPI rose by 3.3%, basically achieving the annual expected target
The "Statistical Bulletin" shows that last year China's total grain output reached 546.41 million tons, an increase of 2.9% over the previous year, setting a historic high, with production increasing for seven consecutive years and exceeding 500 million tons for four consecutive years.
[Interpretation] Xie Hongguang: Last year China's climate conditions were among the most severe in recent years, with continuous low temperatures, droughts, and floods. At the beginning of the year, temperatures were low with more rain and snow; in spring, some parts of southwest China experienced a rare severe drought; in July and August, some southern regions suffered major floods and other natural disasters; in October, Hainan was hit by a major flood disaster. Facing these harsh natural conditions, the Party Central Committee and the State Council promptly deployed disaster reduction and relief efforts, further strengthening a series of agricultural support and benefit policies. Driven strongly by these policies, autumn grain production increased significantly, resulting in another bumper grain harvest for the year.
The increase in grain production played an important role in stabilizing consumer prices. After September, although prices continued to rise rapidly due to the price guidance of agricultural products, the strong support from increased grain production helped the annual CPI rise by 3.3%, basically achieving the annual expected target.
Domestic demand
Domestic demand continues rapid growth momentum
Domestic demand contributed 92.1% to GDP growth, net exports contributed 7.9%
The "Statistical Bulletin" shows that last year China's total import and export volume of goods reached 2,972.8 billion US dollars, an increase of 34.7% over the previous year. Among them, exports were 1,577.9 billion US dollars, up 31.3%; imports were 1,394.8 billion US dollars, up 38.7%.
[Interpretation] Xie Hongguang: Considering that imports and exports sharply declined in 2009 due to the financial crisis, the external demand growth in 2010 includes a certain degree of recovery growth. However, the total import and export, export, and import volumes all exceeded the highest records set in 2008, indicating that external demand has recovered to pre-financial crisis levels.
At the same time, domestic demand continued the rapid growth momentum of 2009, maintaining a fast growth rate. Hotspot consumption grew rapidly. Among them, gold and silver jewelry increased by 46.0%, furniture by 37.2%, automobiles by 34.8%, and household appliances and audio-visual equipment by 27.7%.
Preliminary estimates show that last year domestic demand drove GDP growth by 9.5 percentage points, contributing 92.1% to growth; net exports drove GDP growth by 0.8 percentage points, contributing 7.9%, indicating that domestic and external demand supported economic growth more coordinately than in 2009. According to Xinhua News Agency
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