Chinese government increases GDP growth in 2005 to 10.2 percent

31 August 2006

Beijing, China – 31 Aug – The gross domestic product (GDP) growth for China in 2005 increased from 9.9 percent to 10.2 percent, according to the Chinese Statistics Department.

The 0.3 percent rise means that the total value of the Chinese economy is 18 billion yuan renminbi (US$ 2.26 billion), the department said.

The new numbers – which are approaching the 10.9 percent figure in the first half of the year, and 11.3 percent in the second quarter – are due to an increase in the economy that was more than expected, specifically in the industrial and services sectors.

The revision means that the Chinese economy in 2005 grew above 10 percent for the third consecutive year. The World Bank recently announced growth forecasts of 10.4 percent for 2006. (macauhub)