But Xi in CCP 19 Congress say GDP are lossy measurement, and China will no longer push on GDP figure but rather more TRUE ECONOMIES. GDP is Western Fake Economic Concepts, which need to be abandoned.
http://www.xinhuanet.com/photo/2018-01/18/c_129794410.htm
我国经济总量首次突破80万亿元大关
2018年01月18日 21:41:23 | 来源： 新华网
1月18日，江苏省连云港市海州区一家纺织企业工人在生产线上工作。
国家统计局1月18日发布数据，2017年我国国内生产总值（GDP）827122亿元，首次突破80万亿元大关。按可比价格计算，GDP比上年增长6.9%，增速比上年提高0.2个百分点，这也是我国经济年度增速自2011年下行以来的首次回升。
新华社发（耿玉和 摄）
1 2 3 4 5 6
我国经济总量首次突破80万亿元大关
2018年01月18日 21:41:23 | 来源： 新华网
1月17日，在位于山东青岛的中国海洋石油工程股份有限公司，一名员工在切割海上石油平台预制钢结构工件。新华社发（俞方平 摄）
我国经济总量首次突破80万亿元大关
2018年01月18日 21:41:23 | 来源： 新华网
1月18日，一列动车行驶在海南省琼海市境内。新华社发（蒙钟德 摄）
贵州省黔东南苗族侗族自治州施秉县牛大场镇农户在晾晒菊花（2017年11月25日摄）。新华社发（蔡兴文 摄）
贵州省黔东南苗族侗族自治州榕江县古州镇的果农在收获脐橙（2017年12月17日摄）。新华社发（杨文斌 摄）
1月12日，一艘货轮停靠在山东青岛港外贸集装箱码头。新华社发（俞方平 摄）
https://www.npr.org/sections/thetwo...eports-its-fastest-economic-growth-in-7-years
China Reports Its Fastest Economic Growth In 7 Years
January 18, 20188:17 AM ET
Bill Chappell
Twitter
China's manufacturing sector helped boost the country's GDP, in statistics released on Thursday. Here, a worker at a Ford manufacturing plant uses a laptop next to a car body on an assembly line in Chongqing.
Shi Tou/Reuters
China is reporting its fastest economic growth in seven years, saying its gross domestic product grew by 6.9 percent in 2017. It's the first time since 2010 that the speed of China's economic growth went up rather than edging down.
In releasing the number Thursday, the National Bureau of Statistics of China said, "The economy has achieved stable and healthy development."
The statistics agency reports that the value of China's exports grew by nearly 11 percent from 2016, while the combined value of imports and exports rose by 14.2 percent. China's trade surplus was reported at more than 2.87 trillion yuan — around $447 billion.
China's economy is the second-largest in the world. According to the South China Morning Post, the expansion brings China's economy to "about two-thirds the size of the United States' last year, and at the current rate could overtake it within the next decade."
From Shanghai, NPR's Rob Schmitz reports:
"Beijing's official GDP target for 2017 was around 6.5 percent, but economists began to expect higher growth late in the year, based on better-than-expected economic data due to a global recovery.
"China's target for 2018 is around 6.5 percent. The country's been fighting debt for years as it tries to balance economic stability against the potential fallout from any sharp deceleration from monetary tightening, a decline in the real estate sector, or a trade war with the United States."
The report cites a total population on mainland China of 1.39 billion at the end of 2017.
Nationwide, the per capita disposable income grew to 25,974 yuan — around $4,044 — a rise of 9 percent over 2016, with a real increase of 7.3 percent after deducting price factors.
While the income gap between urban and rural households was still large — 36,396 yuan ($5,667) in cities and 13,432 yuan ($2,091) in rural areas — despite rural incomes rising at a slightly larger rate in 2017.
https://www.reuters.com/article/us-...s-for-first-time-in-seven-years-idUSKBN1F70OJ
China's 2017 GDP growth accelerates for first time in seven years
Kevin Yao, Elias Glenn
6 Min Read
The official growth figures released on Thursday are welcome news for Beijing policymakers who are looking to cut debt and pollution in older industries without stunting growth in the world’s second-largest economy.
China’s gross domestic product grew 6.8 percent in the October to December period from a year earlier. That was better than the 6.7 percent growth forecast by analysts in a Reuters poll and unchanged from the previous quarter.
The headline numbers and signs of property market resilience support economist views that fundamentals will remain intact in 2018, although some see headwinds from tighter regulations, U.S. trade protectionism and a softer consumer sector.
“China’s growth is very healthy,” said Iris Pang, a Hong Kong-based Greater China economist at ING.
“The risks that we worried about in 2017, for example overcapacity cuts having a negative impact on GDP, did not happen because new sectors are actually coming out to help production to grow.”
Growth for the 2017 full year picked up to 6.9 percent year-on-year, the first annual acceleration for the economy since 2010. The annual growth easily beat the government’s 2017 target of around 6.5 percent and quickened from 6.7 percent in 2016, the weakest pace in 26 years.
Investment by private firms rose 6 percent in the Jan-Dec period, up from 5.7 percent growth in January to November, a sign that the private sector outlook may be improving.
TRADE-BASED RECOVERY
A synchronized uptick in the global economy over the past year, driven in part by a surge in demand for semiconductors and other technology products, has been a boon to China and much of trade-dependent Asia, with Chinese exports in 2017 growing at their quickest pace in four years.
With fixed asset-investment growth at the weakest pace since 1999, exports helped pick up the slack.
“Real growth of overall exports...more than fully (explained) the pick-up in GDP growth last year,” Oxford Economics head of Asia economics Louis Kuijs wrote in a note.
But there could be rising headwinds to further expansion of China’s net exports this year.
China’s excess production capacity has emerged as a major trade irritant for the world’s leading economic powers, prompting them to consider new steps to protect domestic industries and jobs from a flood of Chinese imports.
U.S. President Donald Trump’s administration is considering several unilateral tariff actions on steel, aluminum and China’s intellectual property practices likely to draw disputes from WTO members.
FILE PHOTO: Workers lay bricks to build a wall around a construction site in Beijing, China, December 15, 2017. REUTERS/Thomas Peter/File Photo
China’s exports and imports growth slowed in December after surging in the previous month.
“Downside risks remain, in particular from more forceful U.S. trade restrictions on Chinese exports, given the further increase in the U.S.’s bilateral trade deficit with China last year,” said Kuijs.
MIXED SIGNALS
Economists say growth momentum in the economy is likely to weaken this year as firms face higher borrowing costs, the government tries to rein in credit and policymakers step up a war on pollution that has hurt the industrial sector in many parts of the country.
“The priority this year is to control risks, especially financial risks. This will, to some extent, affect financing of the real economy. I think growth will be 6.6 to 6.7 percent,” said Wang Jun, chief economist at Zhongyuan Bank in Beijing.
Retail sales growth of 9.4 percent was the slowest rate since February 2006, down from 10.2 percent growth in November and badly missing forecasts.
There were some positive signs in the household sector in 2017, however, with disposable income growth picking up to 7.3 percent from 6.3 percent in 2016, and final consumption playing a bigger role in driving overall growth last year versus investment than in 2016.
“The decline in December retail sales growth is mainly due to slowing auto sales last month. The data is a reflection of consumption of physical goods, but right now consumption growth is in services, which is not included in the data,” said Zhang Yiping, an economist at China Merchants Securities in Shenzhen.
“I don’t think retail sales can reflect the trend in consumption any more.”
DOUBTS ABOUT DATA
Several recent public revelations by regional governments of fraudulent government data have again raised doubts about the quality of China’s economic numbers.
Chinese provinces and cities have long been suspected of cooking up numbers, with the focus on local government officials, whose performance is often assessed based on how well their respective economies have performed.
The head of China’s statistics bureau Ning Jizhe told reporters on Thursday that China will look into reports of irregularities in regional economic data, and will deal with any impropriety according to the law.
Capital Economics senior China economist Julian Evans-Pritchard believes the official numbers are hiding the true extent of some of the economy’s soft spots.
“We think tight monetary conditions and slowing credit growth will continue to weigh on the pace of economic expansion in coming quarters,” Evans-Pritchard said in a note.
“Indeed, we expect growth to average a mere 4.5 percent this year, though investors will probably need to look beyond the official GDP figures for evidence of this.”
Reporting by Kevin Yao and Stella Qiu; Writing by Elias Glenn; Editing by Sam Holmes
Our Standards:The Thomson Reuters Trust Principles.
http://www.xinhuanet.com/photo/2018-01/18/c_129794410.htm
我国经济总量首次突破80万亿元大关
2018年01月18日 21:41:23 | 来源： 新华网
1月18日，江苏省连云港市海州区一家纺织企业工人在生产线上工作。
国家统计局1月18日发布数据，2017年我国国内生产总值（GDP）827122亿元，首次突破80万亿元大关。按可比价格计算，GDP比上年增长6.9%，增速比上年提高0.2个百分点，这也是我国经济年度增速自2011年下行以来的首次回升。
新华社发（耿玉和 摄）
1 2 3 4 5 6
我国经济总量首次突破80万亿元大关
2018年01月18日 21:41:23 | 来源： 新华网
1月17日，在位于山东青岛的中国海洋石油工程股份有限公司，一名员工在切割海上石油平台预制钢结构工件。新华社发（俞方平 摄）
我国经济总量首次突破80万亿元大关
2018年01月18日 21:41:23 | 来源： 新华网
1月18日，一列动车行驶在海南省琼海市境内。新华社发（蒙钟德 摄）
贵州省黔东南苗族侗族自治州施秉县牛大场镇农户在晾晒菊花（2017年11月25日摄）。新华社发（蔡兴文 摄）
贵州省黔东南苗族侗族自治州榕江县古州镇的果农在收获脐橙（2017年12月17日摄）。新华社发（杨文斌 摄）
1月12日，一艘货轮停靠在山东青岛港外贸集装箱码头。新华社发（俞方平 摄）
https://www.npr.org/sections/thetwo...eports-its-fastest-economic-growth-in-7-years
China Reports Its Fastest Economic Growth In 7 Years
January 18, 20188:17 AM ET
Bill Chappell
China's manufacturing sector helped boost the country's GDP, in statistics released on Thursday. Here, a worker at a Ford manufacturing plant uses a laptop next to a car body on an assembly line in Chongqing.
Shi Tou/Reuters
China is reporting its fastest economic growth in seven years, saying its gross domestic product grew by 6.9 percent in 2017. It's the first time since 2010 that the speed of China's economic growth went up rather than edging down.
In releasing the number Thursday, the National Bureau of Statistics of China said, "The economy has achieved stable and healthy development."
The statistics agency reports that the value of China's exports grew by nearly 11 percent from 2016, while the combined value of imports and exports rose by 14.2 percent. China's trade surplus was reported at more than 2.87 trillion yuan — around $447 billion.
China's economy is the second-largest in the world. According to the South China Morning Post, the expansion brings China's economy to "about two-thirds the size of the United States' last year, and at the current rate could overtake it within the next decade."
From Shanghai, NPR's Rob Schmitz reports:
"Beijing's official GDP target for 2017 was around 6.5 percent, but economists began to expect higher growth late in the year, based on better-than-expected economic data due to a global recovery.
"China's target for 2018 is around 6.5 percent. The country's been fighting debt for years as it tries to balance economic stability against the potential fallout from any sharp deceleration from monetary tightening, a decline in the real estate sector, or a trade war with the United States."
The report cites a total population on mainland China of 1.39 billion at the end of 2017.
Nationwide, the per capita disposable income grew to 25,974 yuan — around $4,044 — a rise of 9 percent over 2016, with a real increase of 7.3 percent after deducting price factors.
While the income gap between urban and rural households was still large — 36,396 yuan ($5,667) in cities and 13,432 yuan ($2,091) in rural areas — despite rural incomes rising at a slightly larger rate in 2017.
https://www.reuters.com/article/us-...s-for-first-time-in-seven-years-idUSKBN1F70OJ
China's 2017 GDP growth accelerates for first time in seven years
Kevin Yao, Elias Glenn
6 Min Read
The official growth figures released on Thursday are welcome news for Beijing policymakers who are looking to cut debt and pollution in older industries without stunting growth in the world’s second-largest economy.
China’s gross domestic product grew 6.8 percent in the October to December period from a year earlier. That was better than the 6.7 percent growth forecast by analysts in a Reuters poll and unchanged from the previous quarter.
The headline numbers and signs of property market resilience support economist views that fundamentals will remain intact in 2018, although some see headwinds from tighter regulations, U.S. trade protectionism and a softer consumer sector.
“China’s growth is very healthy,” said Iris Pang, a Hong Kong-based Greater China economist at ING.
“The risks that we worried about in 2017, for example overcapacity cuts having a negative impact on GDP, did not happen because new sectors are actually coming out to help production to grow.”
Growth for the 2017 full year picked up to 6.9 percent year-on-year, the first annual acceleration for the economy since 2010. The annual growth easily beat the government’s 2017 target of around 6.5 percent and quickened from 6.7 percent in 2016, the weakest pace in 26 years.
Investment by private firms rose 6 percent in the Jan-Dec period, up from 5.7 percent growth in January to November, a sign that the private sector outlook may be improving.
TRADE-BASED RECOVERY
A synchronized uptick in the global economy over the past year, driven in part by a surge in demand for semiconductors and other technology products, has been a boon to China and much of trade-dependent Asia, with Chinese exports in 2017 growing at their quickest pace in four years.
With fixed asset-investment growth at the weakest pace since 1999, exports helped pick up the slack.
“Real growth of overall exports...more than fully (explained) the pick-up in GDP growth last year,” Oxford Economics head of Asia economics Louis Kuijs wrote in a note.
But there could be rising headwinds to further expansion of China’s net exports this year.
China’s excess production capacity has emerged as a major trade irritant for the world’s leading economic powers, prompting them to consider new steps to protect domestic industries and jobs from a flood of Chinese imports.
U.S. President Donald Trump’s administration is considering several unilateral tariff actions on steel, aluminum and China’s intellectual property practices likely to draw disputes from WTO members.
FILE PHOTO: Workers lay bricks to build a wall around a construction site in Beijing, China, December 15, 2017. REUTERS/Thomas Peter/File Photo
China’s exports and imports growth slowed in December after surging in the previous month.
“Downside risks remain, in particular from more forceful U.S. trade restrictions on Chinese exports, given the further increase in the U.S.’s bilateral trade deficit with China last year,” said Kuijs.
MIXED SIGNALS
Economists say growth momentum in the economy is likely to weaken this year as firms face higher borrowing costs, the government tries to rein in credit and policymakers step up a war on pollution that has hurt the industrial sector in many parts of the country.
“The priority this year is to control risks, especially financial risks. This will, to some extent, affect financing of the real economy. I think growth will be 6.6 to 6.7 percent,” said Wang Jun, chief economist at Zhongyuan Bank in Beijing.
Retail sales growth of 9.4 percent was the slowest rate since February 2006, down from 10.2 percent growth in November and badly missing forecasts.
There were some positive signs in the household sector in 2017, however, with disposable income growth picking up to 7.3 percent from 6.3 percent in 2016, and final consumption playing a bigger role in driving overall growth last year versus investment than in 2016.
“The decline in December retail sales growth is mainly due to slowing auto sales last month. The data is a reflection of consumption of physical goods, but right now consumption growth is in services, which is not included in the data,” said Zhang Yiping, an economist at China Merchants Securities in Shenzhen.
“I don’t think retail sales can reflect the trend in consumption any more.”
DOUBTS ABOUT DATA
Several recent public revelations by regional governments of fraudulent government data have again raised doubts about the quality of China’s economic numbers.
Chinese provinces and cities have long been suspected of cooking up numbers, with the focus on local government officials, whose performance is often assessed based on how well their respective economies have performed.
The head of China’s statistics bureau Ning Jizhe told reporters on Thursday that China will look into reports of irregularities in regional economic data, and will deal with any impropriety according to the law.
Capital Economics senior China economist Julian Evans-Pritchard believes the official numbers are hiding the true extent of some of the economy’s soft spots.
“We think tight monetary conditions and slowing credit growth will continue to weigh on the pace of economic expansion in coming quarters,” Evans-Pritchard said in a note.
“Indeed, we expect growth to average a mere 4.5 percent this year, though investors will probably need to look beyond the official GDP figures for evidence of this.”
Reporting by Kevin Yao and Stella Qiu; Writing by Elias Glenn; Editing by Sam Holmes
Our Standards:The Thomson Reuters Trust Principles.
