Top 10 indicators: Vital signs of China's economy

16:25, December 23, 2010      

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At the end of 2010, we present 10 of the most common and vital economic indicators in China to help you monitor the pulse of the livelihood of ordinary Chinese people and the development of the Chinese economy.

Real GDP (Gross Domestic Product) grows by 10 percent

Economists predicted that China's GDP growth in 2010 would maintain at a relatively high level of 10 percent, 2 percent higher than the 8-percent benchmark Premier Wen set in the Government Work Report delivered at the closing ceremony of annual NPC (National People's Congress) session early this year.

China's national economy progressed better than expected in 2010 but still faced the pressures of inflation coupled with slow recovery of demand in overseas markets. In 2011, China must carefully handle the interplay of different factors, such as stable growth, structural adjustment and inflation expectations, and set price stabilization as the top priority. These are the fundamentals for China's healthy and stably economic development.

Fiscal revenue exceeds 8 trillion yuan

Official statistics showed the annual fiscal revenue was expected to hit the benchmark of 8 trillion yuan in 2011. The big increase in fiscal revenue demonstrated rapid national development. But the excess revenue also sparked people's discussion on the true meaning of a "strong China" and "wealthy Chinese."

China will continue to pursue a proactive fiscal policy in the coming year. The Ministry of Finance noted that the budget for expenditures in 2011 would embody the theme of scientific development, transformation of economic development as well as the improvement of the wellbeing of the masses.

Farmers' incomes increased more than 8.3 percent

According to statistics from the Ministry of Agriculture, the increase in farmers' per capita net incomes is expected to surpass 8.3 percent, the average level of the previous four years. It has maintained relatively high growth for seven consecutive years.

Farmers' incomes have continued to increase substantially from the beginning of this year, which is to say the price of major agricultural produce has gone up with the increase of output. Wages rose as more and more farmers found jobs in more affluent regions. With additional policies to support and benefit agriculture, farmers' incomes will be further increased.

Millions of job opportunities created

Statistics from the Ministry of Human Resources and Social Security showed that 9.3 million employment opportunities had been created in the first three quarters this year, surpassing the yearly target of nine million set for 2010.

General speaking, 11 million people have benefited from new job opportunities on average during the 11th Five-Year Plan period.

Grain production increased for seventh consecutive year

Data from National Bureau of Statistics illustrated that the grain production in 2010 hit an all-time high of 546.4 million tons. This is the first time in the past five decades that there has been an increase for seven consecutive years.

With special attention from the CPC Central Committee and the central government, powerful and favorable policies and sci-tech support, grain production will hopefully maintain the good momentum of robust growth.

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