The Asian Development Bank revised its growth estimates for China to 9.3% this year and 8.9% next year, up from its September forecast of 9.2% and 8.8% respectively, the Wall Street Journal reported. The forecasts could be affected by disorderly adjustment of the growing global payments imbalance, a sharp upturn in the global interest-rate cycle, […]
Category: Economics & Trade
The government announced a sharp increase in the official size of the economy December 20, revising the GDP figure for 2004 upwards by US$285 billion. According to the new figures, released by the National Bureau of Statistics, output grew by 16.8% last year, nearly twice the amount reported earlier. The revision came following a survey […]
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GDP revision seen 17.5% up
China is expected to have its GDP go up by 17.5% or by US$300 billion, according to AFP, after the country's first economic census. Standard Chartered economist Stephen Green said the 2005 survey had "apparently found another [US$296 billion] worth of output", which makes China's 2004 economy the fourth-largest worldwide, overtaking Italy, France and the […]
China's foreign exchange reserves could exceed US$1 trillion by the end of 2006 unless domestic demand kicks in to reduce the country's trade surplus, a leading government researcher told state media Thursday. Ba Shusong, vice-head of the financial research institute at the cabinet's Development Research Center, said that China was committed to greater currency flexibilty […]
Commerce Minister Bo Xilai said that China has "diligently implemented" its commitments since acceding to the World Trade Organization in 2001, according to the South China Morning Post. Speaking at the WTO summit in Hong Kong Wednesday, Bo's remarks were seen as a response to claims in a report released by the US Trade Representative […]