China's gross domestic product (GDP) grew 7.1 percent to reach 8.2054 trillion yuan ($988.6 billion) in 1999, said Liu Hong, director of the National Bureau of Statistics at a press conference in Beijing Monday.

China invested 2987.6 billion yuan ($360 billion) in fixed asset last year, up 5.2 percent over 1998, according to NBS figures.

Of the total, 2171.9 billion yuan ($261.7) came from state-owned and other forms of economy, an increase of 6.1 per cent.

The investment played a positive role in pushing the nation's economic growth, improving infrastructure, strengthening the agricultural capability to resist natural disasters and coordinating regional economic development, Liu said.

China's fixed-asset investment reached 2987.6 billion yuan last year, up 5.2 percent over 1998.

Of the total, 2171.9 billion yuan came from state-owned and other forms of economy, an increase of 6.1 percent, said Liu.

The investment played a positive role in pushing the nation's economic growth, improving infrastructure, strengthening the agricultural capability to resist natural disasters and coordinating regional economic development, Liu told the press conference