China Reports Fast Economic Growth in 2001

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Last updated at: (Beijing Time) Monday, November 26, 2001

China Reports Fast Economic Growth in 2001

China recorded an all-round, rapid economic growth this year amidst a global economic downturn. The annual growth of gross domestic product (GDP) is expected to be 7.3 percent.

China recorded an all-round, rapid economic growth this year amidst a global economic downturn.

The gross domestic product of China in the first three quartersof this year increased by 7.6 percent. The annual growth of gross domestic product (GDP) is expected to be 7.3 percent.

��Though the output of China's summer grain crops and early rice reduced by 8.5 billion kilograms this year, good harvests were reported for major economic crops, animal by-products and aquatic products. The acreage of fine-strain wheat expanded by 1.3 millionhectares.

��The added-value of state key industrial enterprises totaled 1.9trillion yuan in the first three quarters, up 10.3 percent over last year's same period. Enterprises across China gained 326 billion yuan of profits in the first nine months, up by 12.6 percent.

��By last July, the number of mobile phone users in China topped 120 million, making the nation the world's largest mobile phone consumer. China now has 26 million Internet surfers.

��With the coal industry seeing a turnaround from loss-making to profit, China is expected to be the second largest coal exporter in the world, with export reaching 80 million tons this year.

��Under the western development strategy, the gross domestic product of the 12 provinces in western China surged 8.7 percent inthe first three quarters to reach 1.2 trillion yuan, higher than the national average.

��China's export will grow four percent this year despite diminishing demand from the international market following the September 11 terrorist attack on the World Trade Center in New York.

��The investment in fixed assets experienced fast growth in the first 10 months, totaling 1.8 trillion yuan, up by 17.4 percent.

��China approved 20,549 foreign-funded enterprises in the first 10 months, an increase of 17.47 percent. The amount of overseas investment used in the same period came to 37.2 billion U.S. dollars, representing a rise of 18 percent.

��The number of tourists to China in the first three quarters grew 5.78 percent. The amount of money spent by overseas tourists increased by 9.28 percent.

��A Chinese trade official attributed China's rapid economic growth to foresight, emphasis on scientific development, and the effectiveness of China's macro-economic policy.

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