China GDP Expands 9.8% in Q4


China's gross domestic product growth sped up unexpectedly in the fourth quarter despite a series of tightening measures by Beijing.

China's GDP grew 9.8% in the fourth quarter from a year earlier, faster than the third quarter's 9.6% increase, the National Bureau of Statistics said Thursday.

China's GDP grew 10.3% in 2010, above 2009's 9.2% expansion.

China's inflation rose 4.6 percent in December from a year earlier, 0.5 percentage points lower the 5.1 percent increase that was registered in November.

The inflation rate stood at 3.3 percent for the full year, which was above the 3 percent target for the year set by the government in early March.

The producer price index (PPI), another measure of inflation at the wholesale level, registered a year-on-year increase of 5.5 percent over the course of the year.

China's industrial value-added output was up 15.7 percent for 2010 when compared to the annual figure for 2009, with the growth rate registering a 4.7 percentage point increase on the pace of growth registered in 2009, the NBS said.

In addition, the profits of large-scale industrial enterprises - which refers to enterprises with annual sales revenue that exceeds five million yuan (about 750,000 US dollars) - expanded 49.4 percent from a year earlier to reach 3.88 trillion yuan in the first eleven months of the year.

China's fixed-asset investment rose 23.8 percent from a year earlier to reach 27.81 trillion yuan (4.22 trillion US dollars).

Urban fixed-asset investment rose to 24.14 trillion yuan, up 24.5 percent from a year earlier, while rural fixed-asset investment rose to 3.67 trillion yuan, up 19.7 percent year-on-year.


TradingEconomics.com, WSJ
1/20/2011 10:08:51 AM