SteelOrbis Shanghai
On October 19,
China's National Statistics Bureau published data on the Chinese economic performance for the first three quarters of 2006. Since the beginning of 2006, the Chinese macro-economy can be characterized by fast growth, stable movement, and quality performance.
1. Gross Domestic
Production maintains its fast growth. From Q1 to Q3, GDP reached RMB 14.1477 trillion ($ 1.7908 trillion) - up 10.7 percent year on year.
2. Fixed assets investment sees a rapid rise. From Q1 to Q3, fixed assets investment totaled RMB 7.1942 trillion ($ 910.7 billion) - up 27.3 percent year on year.
3. Domestic sales revenues increased steadily. From Q1 to Q3, total retail sales of consumer goods amounted to RMB 5.5091 trillion ($ 697.4 billion) - up 13.5 percent year on year.
4. General price level remains stable on the whole. Over the first three quarters of 2006, CPI increased 1.3 percent.
5. Trade surplus continues to go up. From Q1 to Q3, exports and imports totaled $ 1.2726 trillion - up 24.3 percent year on year. Exports reached $691.23 billion, up 26.5 percent year on year, while imports amounted to $581.38 billion, up 21.7 percent.
China's trade surplus totaled $109.85 billion. Over the past three quarters, foreign direct investment increased 1.9 percent to $132.8 billion. The actually-used amount of FDI totaled $42.6 billion, down 1.5 percent year on year. By the end of September, the national foreign exchange reserve had reached $987.9 billion, up $169 billion compared with the beginning of 2006.