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China's GDP Up 7.7% in 2013
Source: news.cn
Source Date: Monday, January 20, 2014
Focus: ICT for MDGs
Country: China
Created: Jan 21, 2014

China's gross domestic product scored 7.7 percent in 2013, just above the target of 7.5 percent set at the beginning of the year, said the National Bureau of Statistics (NBS) on Monday.

 

Last year, the country's gross domestic product reached 56.88 trillion yuan (9.31 trillion U.S. dollars).

 

The economy's fourth-quarter growth also stood at 7.7 percent on government stabilizing measures.

 

"China's economic performance stabilized in 2013," said Ma Jiantang, director of the NBS at a press conference, citing encouraging GDP and job data as well as subdued inflation.

 

The Chinese government defined the "upper and lower limits" of the reasonable range of economic performance in 2013. With a GDP growth rate of 7.5 percent, the "lower limit" is intended to ensure steady expansion and employment, and with the consumer price index at around 3.5 percent, the "upper limit" is meant to prevent inflation.

 

China's imports and exports were valued at $4,160 billion in 2013, an annual increase of 7.6 percent, said the NBS.

 

The country recorded a trade surplus of $259.75 billion in 2013, according to the bureau.

 

Fixed-asset investment jumped 19.6 percent year on year to 43.7 trillion yuan while consumer prices added 2.6 percent for the whole year. Exports rose 7.9 percent to US$2.21 trillion and imports increased 7.3 percent to US$1.95 trillion.

 

Industrial output grew 9.7 percent in December while retail sales in December rose 13.1 percent from a year ago.
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