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China GDP 2007

Xie Fuzhan (C), director of the National Bureau of Statistics, briefs the media on China's economy in 2007, in Beijing, Jan. 24, 2007. (Xinhuanet/Zhang Yong) Photo Gallery>>>

China's GDP grows 11.4 percent in 2007 
    The article supply China GDP 2007 info. BEIJING, Jan. 24 (Xinhua) -- China's gross domestic product (GDP) reached 24.66 trillion yuan (3.43 trillion U.S. dollars) in 2007, up 11.4 percent year on year, said the National Bureau of Statistics (NBS) Thursday. We got the info about China GDP 2007 from the china government.

   BEIJING, Jan. 24 (Xinhua) -- China's gross domestic product (GDP) grew 11.4 percent year-on-year to 24.6619 trillion yuan (3.43 trillion U.S. dollars) in 2007, but the risks of spiraling inflation and economic overheating were also rising.

    The growth rate was 0.3 percentage points higher than the 2006 level revised at 11.1 percent, the National Bureau of Statistics (NBS) said on Thursday.

    NBS head Xie Fuzhan told reporters here that 2007 was the fifth year in a row in which GDP had expanded by more than 10 percent. Analysts said the 2007 figure was also the highest of the past 13 years.

    Breaking economic growth down by quarter, GDP expanded 11.1 percent in the first quarter, 11.9 percent in the second, 11.5 percent in the third and 11.2 percent in the fourth.

    Xie said that the United States and China had been powerful engines for the current cycle of global growth. However, the mounting possibility of the U.S. economy moving into a recession was bound to have a negative effect on the world economy.

    However, Xie was confident of China's economic prospects, saying a "steady" growth was likely this year.

    Xie said, "We will keep a close watch on developments in the U.S. economy on one hand. On the other hand, we'll be striving to address institutional and structural problems in the Chinese economy."

    He said there was still a risk that China's economy could shift from rapid growth to overheating this year, with growing inflationary pressure. To avert this, the central government had adopted a tight monetary policy in tandem with a prudent fiscal policy for 2008.

    The NBS also reported that in 2007, primary industry output was2.89 trillion yuan, up 3.7 percent, while that of the secondary sector was 12.14 trillion yuan, up 13.4 percent, and the tertiary sector, 9.63 trillion yuan, up 11.4 percent.

    The growth rate for the primary sector was 1.3 percentage points lower than in 2006, while the rates for the secondary and tertiary sectors were 0.4 percentage point and 0.6 percentage point higher, respectively.

China's CPI rises 4.8 percent in 2007
 

    BEIJING, Jan. 24 (Xinhua) -- China's consumer price index (CPI) rose by 4.8 percent in 2007, the highest level in more than a decade, according to the National Bureau of Statistics (NBS) on Thursday.

    　BEIJING, Jan. 24 (Xinhua) -- Consumer prices in China rose at their fastest pace in a decade last year, with the consumer price index (CPI) increasing 4.8 percent, an increase that might lead to further tightening measures by the government.

    Last December alone witnessed a CPI increase of 6.5 percent year on year, lower than the record 6.9 percent rise in November but the same as the figures in August and October.

    The National Bureau of Statistics (NBS) announced the CPI on Thursday and identified food prices, especially pork, as the major cause of the increase.

    Food prices surged 12.3 percent last year, accounting for 4.0 points of the 4.8-point CPI rise, Xie Fuzhan, director of the NBS, told the media. Average meat and poultry prices rose 31.7 percent in 2007 and egg prices were up 21.8 percent, Xie said.

    In addition, he said, surging pork prices had kept the CPI figure above four percent since June. The bureau did not, however, break out pork prices separately in Thursday's report.

    "The pork price was underestimated in 2006, which resulted in a sharp decline in the number of pigs, especially sows. The shortfall was further aggravated by a pig cull following a serious outbreak of blue-ear disease last year," he said.

    Soaring world commodity prices were another factor that helped drive the CPI to its highest level since 1997. For example, crude oil prices exceeded 100 U.S. dollars per barrel for the first time at the beginning of this year, up from about 25 U.S. dollars in 2003, and edible oil prices nearly doubled last year on international markets, Xie said.

    China was forced to raise prices of gasoline, diesel and aviation kerosene by nearly 10 percent from Nov. 1 amid a supply shortfall.

    It was necessary to "set China's inflation rate against a worldwide backdrop. India reported a CPI rise of 5.2 percent last year, Russia 9.4 percent, the United States is expected to have a 2.8 percent increase, and Europe has an average rise of above 2 percent," Xie said.

    "Generally speaking, China is not alone. The new round of inflation is a global trend," he said.

    Money supply also lifted prices, he added. M2, a broad measure of money supply, was 40 trillion yuan (about 5.5 trillion U.S. dollars) last year.

    The NBS also reported a 2007 trade surplus of 262.2 billion U.S. dollars, up 84.7 billion U.S. dollars from 2006. Foreign exchange reserves surged 43.3 percent to 1.53 trillion U.S. dollars by the end of 2007.

 

China's fixed asset investment expands 24.8% in 2007
 

    BEIJING, Jan. 24 (Xinhua) -- China's fixed-asset investment rose 24.8 percent year-on-year in 2007, up 0.8 percentage points from the previous year, the National Bureau of Statistics (NBS) said on Thursday.

 BEIJING, Jan. 24 (Xinhua) -- China saw its fixed asset investment rising 24.8 percent year-on-year in 2007, up 0.9 percentage points from 2006, despite the country's attempts to cool investment, the National Bureau of Statistics (NBS) said on Thursday.

    The overall investment in assets last year stood at 13.7 trillion yuan (1.9 trillion U.S. dollars).

    The urban fixed-asset investment was 11.7 trillion yuan, representing an annual increase of 25.8 percent and up 1.5 percentage points from the previous year, NBS head Xie Fuzhan told a press conference in Beijing.

    Wang Tongsan, a researcher with the Chinese Academy of Social Sciences (CASS) observed that investment in construction, factories and other urban fixed assets was still growing "at a fast pace".

    The sizzling investment growth was achieved despite the government's cooling measures. China's central bank last year raised the deposit reserve requirement ratio ten times and the benchmark interest rate six times in a bid to curb loan growth.

    However, the central bank said earlier this month that the growth of renminbi loans began to slow down in the last two months of 2007, thanks to the tightening measures.

    Correspondingly, the urban fixed-asset investment figure for December alone was 19.6 percent, which had helped bring the annual figure down from 26.8 percent for the first 11 months.

    Xie also commented on the effect of the country's macro control measures citing a declining trend of investment growth in the second half.

    Investment growth for the third quarter was 25.3 percent, down 1.6 percentage points from the second quarter, and for the fourth quarter 23 percent, down 2.3 percentage points from the previous three months, according to Xie.

    However, he also noted that "investment in the real estate sector continued to grow rapidly".

    It scored a growth of 30.2 percent in 2007, up 8.4 percentage points from a year earlier, Xie said. Total investment in the sector was 2.5 trillion yuan.

    Wang Xiaoguang, a senior economist with the research institute under the National Development and Reform Commission, said he believed that the impressive growth in real estate spending reflected, at least in part, rising government spending on low-income housing.

    He said real estate developers should have restrained their investment in the second half following a series of tightening measures to cool the property market, including new housing loan policies to check the purchase of a second apartment in addition to repeated interest rate rises.

    As part of its tight monetary policy, the central bank raised the reserve requirement ratio for commercial banks to a record 15 percent last week, up from 14.5 percent, the first such move in 2008.

    The central bank said the move aimed to draw back the excess liquidity on the market and control the possible bounce of the suppressed bank loans.

    CASS's Wang believed spending on investment could be expected to slow down a bit this year, as the country had listed the preventing of the national economy from overheating as one of its top macroeconomic priorities in 2008.

China's industrial output up 18.5% last year
 

    BEIJING, Jan. 24 (Xinhua) -- China's industrial output jumped by 18.5 percent last year, 1.9 percentage points higher over a year earlier, Xie Fuzhan, director of the National Bureau of Statistics, said Thursday.

 BEIJING, Jan. 24 (Xinhua) -- Industrial output jumped 18.5 percent last year, or 1.9 percentage points more than in 2006, Xie Fuzhan, director of the National Bureau of Statistics, said on Thursday.

    Output at companies with annual revenue of at least 5 million yuan (691,600 U.S. dollars) expanded 17.4 percent in December, compared with 17.3 percent in November.

    Industrial output and gross domestic product (GDP) could both expand more slowly this year as the sub-prime crisis and a potential recession in the United States could reduce demand for Chinese exports, according to Zhang Liqun, a researcher at the Development Research Center of the State Council.

    Industrial output growth decelerated from September onward, as the government's tightening measures took effect. The year-on-year growth figures for September and October were 18.9 percent and 17.9 percent, respectively.

    Output growth rates were 13.8 percent for state-owned enterprises and organizations in which the state holds controlling stakes and 17.5 percent for foreign-, Hong Kong-, Macao- and Taiwan-invested businesses, Xie told a press conference in Beijing.

    The rates for heavy and light industry were 19.6 percent and 16.3 percent, respectively.

    Other statistics released on Thursday:

    -- Companies sold 98.1 percent of their production last year.

    -- Profit grew by 36.7 percent year-on-year during the first 11months of last year, six percentage points more than a year earlier, to 2.295 trillion yuan, Xie added. This growth came as the economy expanded 11.4 percent for the whole year, the fifth year of double-digit growth.

    -- Vehicle producers' profit soared 68.7 percent, the highest rate among all sectors. The rates for the chemicals, coal and steel industries were 51.5 percent, 49.1 percent, and 47.2 percent, respectively.

From the China GDP 2007 info,you can see china economy have experience a great improvement. We  believe

china will also experient good in China GDP 2007  info.

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