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February 3, 2010

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Home » Business » Economy

Investments shine in GDP expansion

INVESTMENTS accounted for 92.3 percent of China's gross domestic product growth in 2009, the National Bureau of Statistics said yesterday.

Of the 8.7 percent expansion for the GDP last year, investments contributed 8 percentage points, said a statement on its Website.

Consumption contributed 4.6 percentage points, or 52.5 percent, of last year's GDP growth, while net exports dragged down GDP growth by 3.9 percentage points, or 44.8 percent, said the statement.

China's investment in fixed assets totaled 22.48 trillion yuan (US$3.3 trillion) in 2009, up an annual 30.1 percent, and retail sales in 2009 climbed 16.9 percent year on year to 12.53 trillion yuan.

The total value of foreign trade in 2009 dropped to US$2.21 trillion, down 13.9 percent year on year, and the trade surplus fell 34.2 percent to US$196.1 billion, according to the bureau.

In 2007, investments contributed 4.3 percentage points to GDP growth, consumption 4.4 percentage points and net exports 2.7 percentage points, according to the bureau.

The bureau did not provide statistics for 2008, as GDP growth that year was revised last month.


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