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China's Economy Expected to Grow by Eight Percent
This year has seen a great turn for the better in China's national economy, and authorities predict that China's economy is expected to grow by 8%.
Thanks to the successive effect by a set of macroeconomic policies on expanding the domestic needs, a series of remarkable and positive changes have taken place in the operation of the national economy. And so far with the decreasing tendency in economic growth checked, it has shown a steady trend for the rehabilitation.
Numerals are most persuasive. Statistics released by the State Statistic Bureau tell that the growth impetus of national economy has mainly come from the industry of the secondary industry and the tertiary industry.
Latest statistics indicate that the industry production in China has kept a fast pace in growth, and the profit achievement of enterprises increased by a big margin. Over the past 8 months, China has achieved an accumulated industry value of 1496.8 billion yuan, an increase of 11.6% as against the same period of last year. The large and medium-sized enterprises told a faster growth in their production and they are the main driving-forces pushing the industry ahead. As calculated August saw 6.8% increase in industry contributed by large and medium-sized enterprises, and during the past 7 months, profit realized in industry enterprises exceeded 200 billion yuan, an increase by folds. With the overall enhancement in the operation the benefit of industrial economy has hit a record high in recent years.
In the first half of this year, the tertiary industry accomplished an accumulated value of 1362.6 billion yuan, up 8.1% with its growth rate telling 1.3 % faster than that of last year. With the market activated, volume of transportation expanded, the sales of commercial houses boomed and the tourism industry becoming brisk these are the main reasons pushing the tertiary industry forward.
Consumption, exports, and investment have turned out to be a "three-in-one pattern" in driving forward the Chinese economy. The previous 8 months saw the retailed consumer goods come to a total of 2148.1 billion yuan, with its growth rate exceeding 10 percentage points from last year, i.e. 4 percentage points faster in growth rate than the corresponding period of last year. Foreign trade has witnessed a robust growth with its total-sum in exports and imports to reach 301.7 US dollars, a rise of 36.7% over the same period of last year. The investment in the fixed assets has been increased from month to month with the national and other types of investment in the fixed assets reaching 1119.5 billion yuan, up 12.7%, being 0.1 percentage points faster than the past 7 months.
To guarantee a sustainable speedy and healthy operation in China's economy, the Ministry of Finance has, as authorized by the NPC Standing Committee, issued another 50 billion yuan of long-term treasury bonds for the infrastructure construction. Authorities say this will bring more new motivations to the already speeded economy in its development.
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