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China's
Economy Grows 7.3% in 2001
The National
Bureau of Statistics (NBS) announced in Beijing Sunday evening
that China's gross domestic product (GDP) grew by 7.3 percent
to reach 9.85 trillion Yuan (US$1.19 trillion) in 2001.
Zhu Zhixin,
director of the NBS, told a press conference that the domestic
economy maintained a healthy and sustainable growth in 2001.
Preliminary
figures showed that despite a reduction in grain acreage and
severe natural disasters in some regions, the country's grain
output is expected to surpass 450 million tons this year and
the yields of cotton and sugar will increase more than 10
percent. The output of meat and aquatic products also saw
steady growth.
In the
same time, the acreage of quality wheat increased over 1.3
million hectares, while quality rice accounted for more than
50 percent of the total grain acreage.
During
January-November, industrial production surged 10 percent
year-on-year, and the profits of industrial enterprises reached
406.9 billion Yuan (US$49.2 billion), up 7.4 percent over
the same period of last year.
The reform
of state-owned enterprises (SOEs) has achieved progress this
year, with 13 of the 14 key industries getting out of the
red to make profits, Zhu said.
China
also further reduced redundant production capacity in such
primary industries as coal mining, metallurgy, construction
materials and power generation. In the same time, the hi-tech
industry saw a fast growth this year.
During
January-November, the output of electronic and telecommunication
products, such as microwave communication equipment, optical
telecommunication equipment, mobile telephones and personal
computers, registered growth rates ranging from 20 percent
to 130 percent respectively.
Figures
showed that retail sales totaled 3.356 trillion Yuan (US$405.97
billion) in the first 11 months of this year, up 10.1 percent.
The growth rate was 0.3 percentage points faster than in the
same period of last year.
Meanwhile,
the consumer price index (CPI) rose 0.8 percent nationwide
over the same period of last year. The CPI in urban areas
increased 0.8 percent, while the CPI in rural areas grew 0.9
percent.
The prices
of food, products and services for entertainment, education
and culture, and housing jumped this year. The prices of primary
products saw a slow rise, but the factory price of industrial
products was 1.1 percent lower than last year. The prices
for raw materials, fuel and energy went up 0.1 percent.
According
to the NBS, the average disposable income per capita of urban
residents grew 8.2 percent in real terms in 2001, 1.8 percentage
points higher than last year, while the average net income
per capita for rural residents increased 4.0 percent in real
terms, 1.9 percentage points higher than last year.
NBS figures
indicated that bank savings of Chinese residents registered
a remarkable increase. By the end of November, savings deposit
totaled 7.23 trillion Yuan (US$847.59 billion), 801.9 billion
Yuan (US$97 billion) more than at the beginning of this year.
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