China is the world’s fourth largest economy

14 December 2005

Beijing, China, 14 Dec – The Chinese authorities are expected to announce next week that the country is now the fourth largest economy in the world, having overtaken Italy, France, Great Britain and Germany in a review of figures relating to the gross domestic product (GDP), Chinese English-language newspaper China Daily reported Wednesday.

According to the paper, the National Statistics Department, which will publish part of the results of the first National Economic Census, is due to present a much larger figure than the current one for China’s tertiary sector.

On a visit to Kuala Lumpur, Malaysia, Chinese Prime Minister Wen Jiabao said at the Eastern Asia Conference that China’s GDP had reached US$2 trillion after average economic growth of 9.4 percent per year over 27 years.

On Tuesday, Hong Kong daily South China Morning Post reported that China’s department of statistics could increase its GDP projection by at least US$300 billion.

An increase of that size would push China up from its current seventh place to being the world’s fourth largest economy, a position currently held by the United Kingdom.(macauhub)