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China's GDP grows 10.3 pct in 2010, stable and vigorous

01-21-2011 09:23 BJT

China has released it's highly anticipated economic figures for 2010. The data from the National Bureau of Statistics shows growth soared past expectations, with GDP up 10.3 percent.

It proves China is continuing its upward momentum, after the global financial crisis. Zhang Nini examines the numbers.

According to preliminary estimates, China's GDP hit 39.8 trillion yuan, up 10.3 percent year-on-year, as 2010 came to a close.

In terms of growth by quarters, the indicator was up 11.9 percent in the first quarter, slowed to 10.3 percent for the second and 9.6 percent in the third, before picking up to 9.8 percent for the fourth quarter.

Ma Jiantang, Director of National Bureau of Statistics, said, "Measures have been taken to prevent economic overheating. So far, they show the economic structure is optimal. Domestic demand contributed to 92 percentage points of the GDP rate. This past year also saw balanced development between central and western areas, while great strides have been made in mitigating pollution and reducing carbon emissions."

China's agricultural production experienced a seventh consecutive year of growth in 2010. The total grain output surpassed 546 million tons, up 2.9 percent. Ma says the steady increase helped keep prices at a relatively stable level.

He adds that, for the first time, the growth of per capita income among rural residents is higher than that of urban residents.

The NBS also says China's Consumer Price Index, the main gauge of inflation, rose 4.6 percent in December, year-on-year, and 3.3 percent for all of 2010.

The government is vowing to continue carrying out proactive fiscal and prudent monetary policies, while improving the relevance, flexibility, and effectiveness of macro control.

Editor:Zhang Jingya |Source: CNTV.CN

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