China revises '05 growth to 10.2% | india | Hindustan Times
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China revises '05 growth to 10.2%

China's statistics bureau has revised the country's 2005 gross domestic product growth to 10.2% from 9.9%.

india Updated: Aug 30, 2006 18:24 IST
Reuters

China's statistics bureau revised upward the country's 2005 gross domestic product growth to 10.2 per cent from 9.9 per cent on Wednesday, reflecting faster expansion in industry and services than first reported.

The National Bureau of Statistics said on its Web site (www.stats.gov.cn) that the agriculture and fisheries sector grew by 5.2 per cent last year, industry by 11.7 per cent and the service sector by 10.0 per cent.

It had originally reported that the three sectors grew last year by 5.2 per cent, 11.4 per cent and 9.6 per cent, respectively.

The revised figure made 2005 the third consecutive year in which China's economy grew by at least 10 percent. It expanded by 10.0 per cent in 2003 and 10.1 per cent in 2004.

That activity has only accelerated this year, with annual GDP growth hitting 10.3 per cent in the first quarter and 11.3 per cent in the second.

Authorities have introduced a raft of monetary and administrative tightening measures in recent months to try to slow the economy, especially investment that it fears could aggravate imbalances in the world's fourth largest economy.

The statistics office made no mention of GDP revisions to earlier years.

It said that based on the revisions, agriculture and fisheries accounted for 12.6 per cent of overall output in 2005, while industry made up 47.5 per cent and services 39.9 per cent.