China's Economic Growth Rallies

Home>>Business

Last updated at: (Beijing Time) Sunday, December 08, 2002

China's Economic Growth Rallies

China has reversed its declining economic growth of the past two years and shown a steady growth rate, experts from the State Information Center (SIC) said Saturday.

DISCUSSION

CHINESE

SEND TO FRIEND

China has reversed its declining economic growth of the past two years and shown a steady growth rate, experts from the State Information Center (SIC) said Saturday.

Xu Lianzhong, an analyst with the Economic Forecast Department of the SIC, told an economic forum in Beijing that the economic growth rate accelerated over the first three quarters of the year.

He predicted the 2002 growth will be 0.6 percentage points higher than in 2001, reaching 7.9 percent this year. GDP growth rose from 7.6 percent in the first quarter to 8 percent in the second and 8.1 percent in the third.

According to the SIC, improving industrial performance, increasing private investment, a higher demand for exports and investment, rising consumption and smaller price drops combined topush the economy ahead at a fast speed.

The SIC predicts the international environment for China's economy will improve through 2003 as consumer and business confidence bounce back. Better sales momentum in the domestic market and consistently expansive government policies will help secure a medium economic growth of eight percent next year.

Questions?Comments? Click here

Another Leap Forward for China's Development ( 4 Messages)

Countdown Begins for Damming Yangtze River ( 2 Messages)

Shanghai Wins World Expo 2010 Bid ( 8 Messages)

Beijing Has 1st On-campus Confucius Research Institute ( 15 Messages)

China, Russia Issue Joint Statement ( 2 Messages)