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GDP grows 10.7 percent in 2006

(Xinhua)
Updated: 2007-01-25 10:59

Preliminary estimation shows China'sgross domestic product(GDP) totaled 20.9407 trillion yuan (2.7 trillion U.S. dollars) in 2006, up 10.7 percentyear on year, according to latest figures provided by the National Bureau of Statistics (NBS) Thursday.

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The growth was 0.3 percentage point higher than that in 2005. China recently revised its GDP growth in 2005 to the final figure of 10.4 percent, higher than the original 9.9 percent.

China's GDP growth was 10.4 percent, 11.5 percent, 10.6 percent and 10.4 percent from the first to fourth quarter of 2006, said Xie Fuzhan, commissioner of the NBS at a press conference.

According to previous figures released by the NBS, China's GDP grew 10.3 percent, 11.3 percent and 10.4 percent in the first, second and third quarter, so possibilities exist for the rate in fourth quarter to be revised to a higher level.

The Chinese government timely took a series of macro-control policies last year, effectively preventing the economy from going fast into overheated, Xie said.

China's primary, secondary and tertiary sectors posted a respective 2.47 trillion, 10.2004 trillion and 8.27 trillion yuan in added value, with the secondary sector, including industry, manufacturing and mining, growing at the fastest pace -- 12.5 percent -- last year, according to Xie.

China'sconsumer price index(CPI), a major inflation index, grew by 1.5 percent in 2006.

Housing prices in the country's 70 medium-sized and large cities went up by 5.5 percent in 2006 over the previous year and the increase rate was 2.1 percentage points lower than that for 2005.