| General Economic Situation of the People's Republic of China |
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| Sunday,March 22,2009 Posted: 18:29 BJT(29 GMT) |
| From:Mofcom Article type:Reproduced |
General Situation
After preliminary verification, China’s GDP was 24.953 trillion yuan in 2007, up 11.9 percent over the previous year. Analyzed by different industries, the added value of the primary industry was 2.8095 trillion yuan, up 3.7 percent; that of the secondary industry was 12.1381 trillion yuan, up 13.4 percent, and that of the tertiary industry was 10.0054 trillion yuan, up 12.6 percent. The added value of the primary industry accounted for 11.3 percent of the GDP, down 0.4 percentage points over that of the pervious year; that of the secondary industry accounted for 48.6 percent, down 0.3 percentage points, and that of the tertiary industry accounted for 40.1 percent, up 0.7 percentage points.
The consumer price index grew 4.8 percent over the previous year. Of this total, the prices for food went up 12.3 percent. The retail prices for commodities climbed 3.8 percent. The prices for fixed assets investment rose 3.9 percent. The ex-factory prices for industrial products increased 3.1 percent, of which, the prices for means of production increased 3.2 percent and those for means of subsistence grew 2.8 percent. The purchasing prices for raw materials, fuels and power went up 4.4 percent. The producer prices for farm products went up 18.5 percent. The sales prices for housing in 70 large and medium-sized cities soared 7.6 percent, of which, the prices for new residential buildings went up 8.2 percent, those for second-hand housing grew 7.4 percent and those for rental and leasing were up by 2.6 percent.
At the end of 2007, China’s foreign exchange reserves stood at $1.5282 trillion, an increase of $461.9 billion over that at the end of the pervious year. The year-end exchange rate was $1=7.3046 yuan, an appreciation by 6.9 percent over that at the end of 2006.
The taxes collected in the whole year reached 4.9449 trillion yuan (excluding tariffs, farm land taxes and deed taxes), up 31.4 percent or an increase of 1.1813 trillion yuan over 2006.
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