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China's Economy Keeps Good Growth Momentum: Official
China's economy has maintained a momentum of rapid growth in sharp contrast to the global slowdown, with a GDP growth of 7.6 percent in the first nine months of 2001 compared with the same period of last year, said Li Rongrong, chairman of the State Economic and Trade Commission on Wednesday.
During the first three quarters of the year, the fiscal revenue increased by 24.2 percent compared with the same period of last year; investment in fixed assets rose 18.2 percent; the total retail sales of social consumables grew 10.1 percent, Li told a press conference on the sidelines of the ongoing APEC ministerial meeting.
The total volume of two-way trade saw a growth of 7 percent and foreign investment surged up 20.7 percent, he said.
While the national economy grows steadily, the industrial sectors keep a favorable development momentum in particular, said Li.
He said that from January to September this year, state-level industries have achieved some 212 billion U.S. dollars of added value, an increase of 10.3 percent over the same period of last year.
In the meantime, he said, from January to August this year, industrial enterprises achieved profits valued at some 34.4 billion U.S. dollars, a surge of 15.8 percent; most industrial sectors exceeded the same level of last year in terms of profits earned..
He said that sectors such as textiles, coal, metallurgy, building materials, petrochemicals and sugar refining continued to control the aggregates.
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