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China's GDP Up 11.1 Per Cent In First Half 2010

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China's GDP Up 11.1 Per Cent In First Half 2010


By Vincent Low

BEIJING, July 15 (Bernama) -- China's gross domestic product (GDP) grew 11.1 per cent in the first half of 2010 to reach 17,284 billion yuan, according to data released by the National Bureau of Statistics (NBS) here Thursday.

NBS spokesman Sheng Laiyun described the overall Chinese economy as being on a good momentum of development.

"China's economy is still able to achieve high growth rate, high employment rate and low inflation despite the slow recovery of the world economy from the financial crisis, EU debt crisis and natural disasters in the country.

"In terms of growth by sectors, the primary industry rose 3.6 per cent to 1,336.7 billion yuan, secondary industry 8,583.0 billion yuan( 13.2 per cent); and tertiary industry 7,364.3 billion yuan( 9.6 per cent)," Sheng said during a media briefing at the State Council Information Office here.

Sheng said that while agriculture production was on a steady growth, natural disasters brought by climate change, had resulted in a decrease in summer grain output by 0.3 per cent or by 390,000 tonnes to 123.10 million tonnes in the first half of the year.

"Industrial production picked up quickly with a substantial increase in economic efficiency of enterprises," said Sheng, adding that the production and sales of industrial products went on well.

In the first half of this year, the investment in fixed assets of the country was 11,418.7 billion yuan, up by 25.0 per cent year-on-year.

Meanwhile, the year-on-year Consumer Price Index (CPI) went up by 2.6 per cent while producer prices for manufactured goods increased sharply.

Foreign trade recovered rapidly with total trade up 43.1 per cent year-on-year to US$1,354.9 billion (exports-US$705.1 billion, imports-US$649.8 billion).

In the first half of this year, the per capita total income of urban households was 10,699 yuan. Of this total, the per capita disposable income of urban population was 9,757 yuan, a year-on-year growth of 10.2 per cent.

The per capita cash income of rural population was 3,078 yuan, up by 12.6 per cent year-on-year, or 9.5 per cent growth in real terms.

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