China's gross domestic product (GDP) reached 7.1682 trillion yuan
(866 billion US dollars) in the first three quarters of this year,
up 7.9 percent year-on-year, figures released Wednesday by the
National Bureau of Statistics (NBS) show.
NBS Deputy Director Qiu Xiaohua told a press conference Wednesday
morning that this growth rate was 0.3 percentage point higher
year-on-year.
During the period, China saw a total of 2.5838 trillion yuan (312
billion dollars) in fixed asset investment, up 21.8 percent
year-on-year. Investment in capital construction and in the real
estate sector rose 24.6 percent and 29.4 percent, respectively.
Foreign direct investment (FDI) in China jumped 22.6 percent during
the first three quarters of this year to 39.6 billion dollars and
it is expected to exceed 50 billion dollars this year due to the
improved FDI environment, according to Qiu.
Meanwhile, total foreign trade volume in China surged 18.3 percent
to 445.1 billion dollars during the period, with exports rising
19.4 percent to 232.6 billion dollars, the highest ever this
year.
Per capita income for urban residents reached 5,793 yuan (698
dollars) from January to September, up 17.2 percent, while that
ofrural residents increased 5.3 percent to 1,721 yuan (207
dollars).
During the first nine months, China's domestic market continued to
operate in a stable manner, with significant increases in the sales
of automobiles, housing and telecommunications equipment,
indicating the emergence of a new consumer pattern.
In
contrast with strong consumer sales, Qiu said, consumer prices
remained relatively low. Consumer prices in the three quarters
dropped 0.8 percent compared with the same period of last year.
Consumer goods sales increased by 9.8 percent to reach 1.85
trillion yuan (222.75 billion dollars) in urban areas, while
registering a 6.8 percent year-on-year increase to 1.06 trillion
yuan (128 billion dollars) in rural areas.
Qiu said in view of the slower growth of rural retail sales, the
Chinese government is preparing to take steps to improve the
situation.
China's GDP will hit a record 10 trillion yuan (about 1.2 trillion
US dollars) by the end of 2002 as a result of the government's
efforts in structural adjustment and in stimulating demand both at
home and abroad, Qiu said.
(Xinhua News
Agency October 16, 2002)