China Watch Blog has learnt that the China’s economy grew 10.3 percent last year, up from 9.2 percent in 2009.
According to the National Bureau of Statistics (NBS) director Ma Jiantang, China’s gross domestic product (GDP) hit 39.8 trillion yuan ($6.05 trillion) last year, up 10.3 percent year on year calculating at comparable prices.
In the fourth quarter, GDP growth picked up to 9.8 percent year on year from 9.6 percent in the third quarter, after slowing from 11.9 percent in the first quarter and 10.3 percent in the second, China Daily reported.
“In the past year, China has consolidated and boosted its recovery from the global financial crisis, and the national economy is generally operating well,” Ma said.
“The country is at a key stage of turning recovery into stable growth,” he said.
The government set the full-year growth target at 8 percent in early 2010, after the economy recovered from the global economic downturn in 2009.
Breaking the figures down, the value-added of the primary sector topped 4.05 trillion yuan in 2010, up 4.3 percent year on year; that of the industrial sector jumped to 18.6 trillion yuan, up 12.2 percent year on year; and that of the tertiary sector, or services sector, rose to 17.1 trillion yuan, up 9.5 percent year on year.
“The past year had been an extraordinary year for China’s development,” said Ma, noting that the country had dealt with many challenges, including a complicated domestic and global economic conditions and natural disasters.If you think China Watch Blog's information is useful, click on cup of coffee on left hand side and make a small contribution via PayPal