Preliminary figures show that China's gross domestic product (GDP)
in 2001 will for the first time top 9 trillion yuan (US$1.08
billion). An expected GDP of 9.58 trillion yuan (US$1.15 trillion)
will make China the sixth biggest economy in the world. Major
economic statistics for China in the year 2001 covering national
revenue, foreign reserve and other economic indexes were also
released in the report that follows:
GDP: China's gross domestic product (GDP) in 2001 will top 9
trillion yuan (US$1.08 billion) for the first time, according to
concerned departments. A GDP of 9.58 trillion yuan (US$1.15
trillion) will make China the sixth biggest economy in the
world.
National Revenue: The national revenue in 2001 will for the
first time exceed 200 billion yuan (US$24.1 billion). Value-added
tax have recorded a growth of 78.4 billion yuan (US$9.46 billion),
the fastest ever growth since 1994. The national financial revenue
of more than 1.4 trillion yuan (US$168.9 billion) was a 20 percent
increase compared to that of 2000.
Foreign Reserve: According to authoritative economic
department statistics, China's foreign reserve has for the first
time climbed to over US$200 billion. China now has a big foreign
reserve to cover both future risks and development.
Food Production: Though agriculture was hit by serious
natural disasters in the year 2001, China managed to keep
increasing its food reserve. According to authoritative economic
department statistics, China managed to produce over 45 billion
tons of food and to build stronger food reserves for its largest
population in the world.
Citizens' Deposit: As the national economy develops,
citizens gain more income and their living standards improve. It is
estimated that urban citizens' average income increased 8.2 percent
over that of 2000, a 1.8-percent growth based on average 2000
income growth. Rural citizens also gained 4 percent in their net
income, up by 1.9 percentage points. Bank deposit balances went
beyond 7 trillion yuan for the first time, 800 billion yuan up from
the beginning of 2001.
Treasury Bonds: The state has issued 150 billion yuan
(US$18.1 billion) in bonds to launch key projects like the
Qinghai-Tibet Railway and the West-to-East electrical power lines
and West-to-East natural gas pipelines projects. Fixed assets
investment surpassed 2 trillion yuan (US$241.3 billion), a
16-percent increase from that of 2000. Real estate investment
achieved a super-fast growth of around 30 percent.
Foreign Direct Investment: In a global recession, China
enjoyed a sound economic outlook and attracted many foreign
investors. Over US$100 million on average per day poured into
Chinese economy in 2001. It is estimated that foreign direct
investment will add up to US$470 million in 2001.
Car Sales: Over 200 million car were sold in 2001, the
fastest growth -- 16 percent -- in recent years. Two other
statistics also should be noted: Nearly 60 percent of cars sold
were sedans and mini cars, and most cars were bought by private
consumers. In Beijing for instance, private purchases account for
nearly 80 percent of all car sales. In the Beijing Asian Games
village car exchange market, for the first time, over 50 percent of
the Red Flag sedans, sedans used by several generations of national
leaders and in recent decades purchased mainly by the state, in
2001 were bought by private customers.
Food Production Acreage: The year 2000 witnessed a big
reduce in food growing acreage that conspired to less food output.
But lands for planting special-quality wheat were expanded to over
20 million mu (1.3 million hectares).
Electronic Devices: Microwave communication devices, photon
communication devices, programming switchboards, mobile phones,
computers and other electronic and communication devices recorded
an output growth ranging from 20 percent to 130 percent.
Coal Industry: An industry that was staggering now writes
off deficits and gets profits. It is estimated that coal industry
will reach its highest export in history -- 85 million tons, or 27
million tons up than the previous year.
Foreign Trade: According to the General Administration of
Customs, total foreign trade volume amounted to US$509.77 billion
in 2001, an increase of 7.5 percent from the previous year. Exports
were valued up 6.8 percent at US$266.16 billion and imports up 8.2
percent at US$243.61 with a US$22.55 billion favorable balance.
(Xinhua News
Agency, January 3, 2002, translated for China.org.cn by Alex
Xu)