China says GDP grew 9.8 per cent in 2005 (to 1.93 trillion dollars)

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China says GDP grew 9.8 per cent in 2005
Jan 2, 2006, 15:29 GMT

http://news.monstersandcritics.com/business/article_1072828.php/China_says_GDP_grew_9.8_per_cent_in_2005

Beijing - China's estimated gross domestic product rose 9.8 per cent last year, 0.4 percent higher than previously estimated, state media on Monday quoted a senior official as saying. The higher figure resulted from recent changes to China's calculation of GDP, the government's official Xinhua news agency quoted Ou Xinqian, vice minister of the National Development and Reform Commission, as saying.

'The commission's previous estimate for last year's economic growth was 9.4 per cent,' the agency quoted Ou as saying. 'This figure was adjusted according to the newly revised GDP in 2004.'

China last month raised its estimated gross domestic product (GDP) for 2004 by 16.8 per cent, following a survey that aimed to measure the growing service sector and other industries more accurately.

The new estimate was about 2.3 trillion yuan (284 billion dollars) higher than the previous figure, taking China's revised GDP to 1.93 trillion dollars, the National Bureau of Statistics said.