| China's Economy in 2008 |
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| Wednesday,April 08,2009 Posted: 16:03 BJT(0803 GMT) Economic and Commercial Counselor's Office in Finland |
China’s gross domestic product (GDP) reached 30.067 trillion yuan (4.4216 trillion U.S. dollars) in 2008, with an annual increase of 9%, which is the lowest since 2001 and the first time China's GDP growth fell into the single-digit range since 2003.
China's industrial output rose 12.9% year on year in 2008, 5.6 percentage points lower than the previous year, and Retail sales rose 21.6 % in 2008, 4.8 percentage points more than in 2007. Urban disposable incomes rose a real 8.4 % last year, while those of rural Chinese went up 8 %.
According to the General Administration of Customs, China’s foreign trade last year totaled 2561.6 billion US Dollars, and the year-on-year growth rate recorded a seven-year low at 17.8%, down 5.7 percentage points from the previous year. Export amounted to 1428.6 billion US Dollars with an annual increase of 17.2%, and import 1133.1 billion US Dollars, increasing 18.5%, with a trade surplus of 295.5 billion US Dollars.
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