2004 GDP revised up 16.8%, ranking 6th largest economy (Xinhua) Updated: 2005-12-20 13:43
Business confidentiality
"In the publication, utilization and analysis of the survey results,
departments and local governments concerned should continue to abide by the
Statistics Law and the Regulations on National Economic Survey, to protect
business confidentiality and privacy of the respondents, and to honor earnestly
the commitmentsof not levying any penalties on the respondents on the basis of
survey information," Li Deshui said at the press conference.
The NBS is working on the revision of data back to 1993 on the basis of the
revised GDP figures in the survey year, using the trend deviation method which
is widely adopted by the Organizationfor Economic Cooperation and Development,
Li said.
"Results of the revision will be released on another occasion," he said.
According to the State Council's decision, the survey results will be used as
a basis for the central government and for local governments in compiling 2005
national account statistics, in highlighting economic and social development for
the 10th Five-year Plan period (2001-2005), and in preparing the 11th Five-year
Development Program and the 2006 annual development plan, he said.
Tertiary industry
The share of China's tertiary industry in the country's 2004 GDP has
risen from the earlier estimated 31.9 percent to 40.7 percent, up 8.8 percentage
points, shows the first-ever national economic survey.
The results from the national economic survey indicate there was an
underestimation of the tertiary industry's contribution to China's GDP in 2004,
Li said.
According to the survey, the value-added of the tertiary industry was 6.5018
trillion yuan, or 2.1297 trillion more than the annual preliminary estimation.
Of the total increase of 2.3 trillion yuan in the GDP, the increase of the
value-added of the tertiary industry accounted for 2.13 trillion, or 93 percent,
said Li.
Li said it is the under-coverage of the tertiary industry in the regular
statistics that has led to the above situation.
As the scope of the tertiary industry is turning wide and complex with a
large number of units, and many new and dynamic services are mushrooming in
China along with the rapid economic growth, it is very difficult to conduct
statistics surveys, resulting in a certain degree of under-coverage, Li added.
Li mentioned the three sectors where private and individual ownership has
taken a large share, including transport, storage, post and telecom; wholesale
and retail trade, catering trade; and the real estate. The value-added in the
three sectors was about 1.5 trillion yuan larger than the regular preliminary
estimation, accounting for 70 percent of the total increase of the tertiary
industry.
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