久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

  Home>News Center>China
       
 

China's economy may have overtaken France
(Bloomberg.com)
Updated: 2006-01-23 10:43

China probably overtook France as the world's fifth-largest economy in 2005 as a record trade surplus and surging investment drove the fourth straight year of more than 9 percent growth.

Gross domestic product increased 9.8 percent, according to the median estimate of 23 economists surveyed by Bloomberg News. The economy grew 10.1 percent to $2 trillion in 2004. The statistics bureau will report GDP and other economic data for 2005 on Jan. 25 at 10 a.m. in Beijing.

The government is stepping up efforts to increase consumer spending in a nation where per capita incomes are still a 16th of France's, supporting the economy as it curbs runaway investment in steel plants and real estate. That may bolster demand for Ford Motor Co. cars and Nokia Oyj cell phones.

``China's economy will have very strong growth but the model will be different,'' said Jason Jiang, chief executive of Focus Media, China's biggest outdoor advertising company, which counts Nokia and Ford among its clients. ``Chinese people now have greater purchasing power and they are willing to spend because they are more optimistic about the future.''

A nationwide census completed last year revealed millions of previously unaccounted-for companies in service industries such as retailing, real estate and the Internet. The survey led officials to conclude that the economy was $284 billion, or 17 percent, larger than previously thought in 2004.

Driving Force

After the revision, China moved up to sixth place in the economy rankings. The U.S.'s $12 trillion economy stands at No. 1, and Japan's is the second-largest, at $4.7 trillion. Germany and the U.K. are also still ahead of China.

On Jan. 9, the statistics bureau raised its estimate for 2004 GDP growth to 10.1 percent from 9.5 percent to reflect the census findings. The National Development and Reform Commission, the nation's top economic planning agency, on Jan. 5 said the economy likely expanded 9.8 percent in 2005.

China's economy probably expanded 9.5 percent in the fourth quarter, according to the median forecast of 21 economists surveyed by Bloomberg News. The statistics bureau hasn't issued revisions to historical quarterly growth figures.

Growth may cool to as little as 8.5 percent this year as China keeps lending curbs on investment and last year's record $102 billion trade surplus narrows, the agency's research unit said in a report in the official China Securities Journal. Economists surveyed by Bloomberg News forecast 9 percent expansion. Japan's government expects GDP growth of 1.9 percent this year.

``China will still be a very important driver'' of global growth, said Stephen King, head of global economic research at HSBC Holdings Plc. ``We've already seen from last year's upward surprises that it has a big impact on energy prices globally, on commodity prices globally. I can't see that changing very much this year.''

Annual growth averaging 9.6 percent over the past 25 years made houses, cars and mobile phones affordable to millions of consumers. China is now the world's largest mobile-phone market, with more than 380 million subscribers, and the fastest-growing major car market for Ford and General Motors Corp. Ford's car sales in China jumped 46 percent last year, it said Jan. 16.

There's still room for growth. Only eight in 1000 Chinese owns a car, according McKinsey & Co. Mobile-phone penetration stood at 29 percent in November. In  Hong Kong, China's special administrative region, there are more cell phone accounts than people.

China's retail sales probably gained 13 percent in 2005 and may maintain that pace this year, the National Development and Reform Commission said Dec. 27. For December alone, retail sales probably rose 12.7 percent, according to a Bloomberg survey.

``You have within China a core of people in the urban areas with significant incomes and you are beginning to see some pick-up in their consumption,'' Steven Dunaway, deputy director of the International Monetary Fund's Asia and Pacific region, said in a telephone interview from Washington.

Still, China had more than 100 million people living in poverty at the end of 2004, more than the population of Germany, and average per capita income ranked 129th in the world at about $1500, behind Egypt and Iran, statistics bureau commissioner Li Deshui said on Dec. 20.

The government abolished agriculture taxes from Jan. 1 this year and is raising thresholds on income tax, increasing minimum wages and civil servants' salaries. Even so, measures adopted so far will likely only provide a temporary boost to consumer spending, said Dunaway of the IMF.

``If the government wants a long-term solution, it has to have a properly functioning financial system to give people access to credit, and increase spending on health, education and pensions,'' he said. ``That could substantially diminish the strong savings motive among households and give them the confidence to increase spending.''



Fireworks sale in Beijing
Snow-covered Shennong Mountain
Beautiful rime in Jilin
  Today's Top News     Top China News
 

President Hu to visit US in April, says report

 

   
 

Train tickets the most precious gift

 

   
 

Science ship returns after 300 days at sea

 

   
 

SOE management given share approval

 

   
 

China's economy may have overtaken France

 

   
 

Saudi king arrives in China to discuss energy

 

   
  Test promotes Internet awareness
   
  Record number of overseas tourists visit capital
   
  SOE management given share approval
   
  Train tickets the most precious gift
   
  President Hu to visit US in April, says report
   
  Superstars, Supergirls to grace festival party
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  It is time to prepare for Beijing - 2008  
Manufacturers, Exporters, Wholesalers - Global trade starts here.
Advertisement
         
主站蜘蛛池模板: 亚洲视频在线一区 | 国产日韩欧美一区二区 | 一级女毛片 | 亚洲天堂中文网 | 日本免费一区二区三区a区 日本免费一区二区三区看片 | 99成人在线观看 | 日本韩国欧美在线观看 | 9久久99久久久精品齐齐综合色圆 | 欧美日韩国产高清一区二区三区 | 久久五月女厕所一区二区 | 毛片网站免费在线观看 | 成人看的午夜免费毛片 | 欧美美女一区二区三区 | 免费在线一区二区三区 | 久久免费视频在线观看 | 国产一区二区三区手机在线观看 | 久揄揄鲁一二三四区高清在线 | 97青娱国产盛宴精品视频 | 国产日韩精品一区二区 | 久久厕所精品国产精品亚洲 | 综合久久久久久中文字幕 | 男人的天堂久久 | 九九九精品视频 | 美女很黄很黄是免费的·无遮挡网站 | 国产一区二区三区手机在线观看 | 成 人 在 线 免费 8888 www | 成人亚洲精品一区 | 九九综合九九综合 | 国产黄色a三级三级三级 | 久草新 | 久久精品99毛片免费 | 亚洲视频综合网 | 国产欧美日韩亚洲精品区2345 | 精品日韩欧美一区二区三区在线播放 | 午夜爽视频 | 思99re久久这里只有精品首页 | 国产欧美曰韩一区二区三区 | 欧美黄网在线 | 亚洲精品国产成人 | 午夜爽爽爽视频 | 亚洲欧美日韩精品在线 |