Private sector makes big inroads

The private sector now accounts for a quarter of China's gross domestic product (GDP), according to National Bureau of Statistics figures. Private enterprises have made big inroads in established sectors such as consumer goods production as well in areas that were previously government monopolies, including transport and telecommunications. The bureau also said that consumption accounted for 61 per cent of China's GDP last year, 19 percentage points lower than the international average, while investment accounted for 37 per cent, far higher than the proportion in most other countries.