2009 GDP growth rate revised up to 9.2%
THE government Tuesday revised its gross domestic product (GDP) growth rate in 2009 to 9.2 percent from the previous 9.1 percent.
In a statement on its Web site, the National Bureau of Statistics (NBS) gave no explanation for the revision, but a chart breaking down the output figures indicated all the additional gains came from the tertiary, or service, sector. After the revision, China s GDP at current price was 34.0903 trillion yuan (US$5.15 trillion) in 2009, up by 39.6 billion yuan from the previous figure, the NBS said. The NBS will release China s GDP growth figures for the fourth quarter and the whole of last year Jan. 20.
Positive statement about dollar assets urged
CHINA would welcome a positive statement from the United States about the security of its dollar-denominated assets, a senior Chinese diplomat said yesterday, ahead of President Hu Jintao s visit to the United States.
Chinese Vice Foreign Minister Cui Tiankai was speaking at a news conference in Beijing about Hu s state visit from Jan. 18 to 21, including a summit with President Barack Obama.
Banks lend 600b yuan to start year
CHIENSE banks extended about 600 billion yuan in new local-currency loans in the first week of 2011, and lending in January could reach 1 trillion yuan, Caijing magazine reported yesterday, quoting analysts.
It also quoted unnamed bankers as saying that officials had informed banks of their respective lending quotas for the first quarter and that total credit issue in 2011 will not be small, but will be a bit tighter than last year. Chinese banks are set for their customary early-year lending blast and the ritual is threatening to flood the economy with cash just as the government tightens policy to curb inflation.
