China's economy fourth biggest in world after sharp growth i
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BEIJING : China's economy was elevated to the world's fourth biggest, overtaking France and Britain, after the government announced robust economic growth of 9.9 percent in 2005.
Fueled by booming investment and active consumer spending, China's gross domestic product (GDP) rose to 18.2 trillion yuan (2.3 trillion dollars) last year, the National Bureau of Statistics said.
The 2005 growth rate, which took inflation into account, followed an expansion of 10.1 percent in 2004 and 10 percent in 2003. The performance also matched the average growth rate of 9.9 percent recorded between 1993 and 2004.
Statistics bureau director Li Deshui characterized China's economy in 2005 as "fairly good.
"The stability of the economic performance was strengthened to some extent and progress was seen in more balanced development," he told a briefing in Beijing.
China has now jumped from sixth to fourth on the list of the world's biggest economies, overtaking France and Britain.
In 2004, France's economy totaled two trillion dollars and Britain's was worth 2.14 trillion dollars but they recorded far slower rates of growth than China last year.
Britain announced on Wednesday economic growth of just 1.8 percent in 2005. -
Bad news. More jobs are going to be lost.
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do not worry .you can go to china to be a foreigen workerOriginally posted by ndmmxiaomayi:Bad news. More jobs are going to be lost. 