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: 九九香蕉 | 亚洲国产精品久久 | 中美日韩在线网免费毛片视频 | 成人在线观看午夜 | 久久久久久91精品色婷婷 | 亚洲精品久一区 | 亚洲最大看欧美片网站 | 国产精品自在线 | 一本久道久久综合婷婷五 | 99在线在线视频免费视频观看 | 综合视频在线 | 日本在线视频播放 | 九九九九热精品免费视频 | 午夜神马视频 | 久久久免费精品视频 | 一级片免费网址 | 久热精品男人的天堂在线视频 | 日本三级香港三级人妇99视 | 国内高清久久久久久久久 | 日韩欧美毛片免费看播放 | 国产成人综合在线视频 | 日本中文字幕不卡免费视频 | 欧美视频不卡 | 国产在线综合一区二区三区 | 欧美yyy | 国产精品久久久久999 | 欧美视频第一页 | 久久久久在线视频 | 免费看v片网站 | 久久精品国产一区二区 | 欧美成人精品高清在线观看 | 国产中文字幕在线免费观看 | 欧美成人免费香蕉 | 一级无毛片 | 精品成人在线 | 美女张开腿双腿让男人桶 | 日本一道免费一区二区三区 | 我想看三级特黄 | 人与拘一级a毛片 | 成人男女网18免费91 | 欧美xx一片 |