China’s GDP increases by 8.7 percent in 2009

Friday, 26 February 2010 13:58:31 (GMT+3)   |  
       

In 2009 China's gross domestic product (GDP) rose by 8.7 percent year on year to reach RMB 33.535 trillion ($4.91 trillion), according to the figures announced by China's National Bureau of Statistics on February 25.

China's foreign exchange reserves stood at $2.399 trillion at the end of 2009 with an increase of $453.1 billion year on year, while financial revenues in the year in question stood at RMB 6.847 trillion (approx. $1 trillion), up 11.7 percent year on year, including tax revenues of RMB 5.951 trillion ($871.66 billion), up 9.8 percent on year-on-year basis.

A stimulus plan worth RMB 4 billion was announced by the Chinese government last year, while total investment in fixed assets in China reached RMB 22.484 trillion ($3.29 trillion) for the year, increasing by 30.1 percent year on year.

At the end of 2009, broad money supply (M2) was 60.6 trillion, up by 27.7 percent year on year while narrow money supply (M1) stood at 22.0 trillion, increasing by 32.4 percent. Cash in circulation (M0) was RMB 3.8 trillion, up.8 percent year on year, with outstanding RMB loans at the end of the year at RMB 40.0 trillion, increasing by RMB 9.6 trillion year on year.


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