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China's GDP grows 10.6% in 3 quarters

10-21-2010 13:54 BJT Special Report:China’s Economic Data for Sept. |

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China's State Council Information Office has just held a press conference, to release the country's third quarter economic figures. The spokesman from the National Bureau of Statistics says China's overall economy is consistently developing soundly.

China's GDP reached 26.86 trillion yuan in the first three quarters of the year, an expansion of 10.6 percent. The added value of large-scale industrial production output maintained rapid growth, logging a rise of 16.3 percent. The first nine months saw a 24 percent growth in fixed asset investment.

China's Consumer Price Index, or CPI, a major gauge to measure inflation, rose 3.6 percent in September, reaching its highest mark in 23 months. For the first three quarters, the figure was 2.9 percent. The Bureau says China's producer price index, or PPI, a major measure of inflation at the wholesale level, rose 5.5 percent in the first nine months.

Judging by these statistics, the spokesman of National Bureau of Statistics said the overall economic situation is good and continuing to move toward macro control.

Sheng Laiyun, Spokesman of National Bureau of Statistics, said, "Agricultural production has been stable, and autumn grain output is expected to increase. Industrial production has kept a fast growth, and consumption, investment, exports and imports are all keeping up smoothly. The employment situation is better than expected, and people's income continues to rise steadily. The price of consumer goods remains stable. Besides that, the quality of economic growth is high, and the financial income and profits of enterprises are going up."

Sheng Laiyun also said China is now at a key period of transferring from a sound recovery to a smooth development. Economic development still has some unstable elements, including the complex economic situation overseas, and the steps toward recovery are still tough. Experts called for a balance of the relationship between the restructuring of the economy and its development.

Editor:Zhang Jingya |Source: CNTV

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