China Records 9.9 pct GDP Growth in 1st Quarter: NBS

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Last updated at: (Beijing Time) Thursday, April 17, 2003

China Records 9.9 pct GDP Growth in 1st Quarter: NBS

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Preliminary statistics show that in the first three months of this year China's gross domestic product (GDP) reached 2.3562 trillion yuan (about 285 billion US dollars), up 9.9 percent from the same period last year, according to reports released at a press conference of the National Bureau of Statistics Thursday.

China's consumer commodity retailvolume reached 1.1109 trillion yuan (134.33 billion US dollars) inthe first three months, rising 9.2 percent year-on-year.

China's industrial enterprises netted 98 billion yuan (11.85 billion US dollars) in profit in thefirst two months, up 1.2 times.'

China's fiscal revenue topped 520.5 billion yuan (62.94 billion US dollars) in the first three months, up 36.7%.

China's capital investment in fixed assets totaled 615.5 billion yuan (74.36 billion US dollars)during the first three months of 2003, an increase of 27.8 percentover the same period last year.

The figures show the growth was 8.2 percentage points higher than that of the same period of 2002.

The NBS figures show investment by the state-owned and other sectors of the economy totaled 447.9 billion yuan (54.11 billion U.S. dollars) from January to March, up 31.6 percent year-on-year, 5.5 percentage points higher than the same period of last year.

Investment by the collective and private sectors reached 167.6 billion yuan (20.25 billion US dollars), up 18.7 percent, surging 11.8 percentage points.

According to the NBS, infrastructure investment increased 28 percent over the same period of last year; investment for renovation and upgrading rose 36.7 percent; and real estate investment went up by 34.9 percent.

The strategic restructuring of China's agriculture progressed well during the first quarter of 2003, according to figures from the National Bureau of Statistics (NBS).

The statistics show that the cultivated grain area in 2003 saw a further decrease, while that of cotton and oil-yielding crops increased.

A total of 2.295 million hectares of grain land was cultivated this year, down 2.2 percent from last year. In contrast, the land of cotton and oil-yielding crops increased 16 percent and 4.1 percent respectively, according to the NBS.

The NBS also reported growth in the cultivated areas of vegetables, medicinal materials, wheat, corn and cole.

Animal husbandry and fish farming also saw a steady increase inthe first quarter. Meat and aquatic products increased 3.4 percentand two percent respectively over the same period of last year.

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