Highlights of China's Economic Statistics for 2010

Yesterday the National Bureau of Statistics published a report about the major economic and social developments for 2010.

China's GDP reached 39.79 trillion yuan in 2010, up 10.3 percent from 2009. The growth rate of the agricultural sector increased 4.3 percent, while the industrial sector growth rate increased12.2 percent. The growth rate of the service sector rose 9.5 percent. Chinese enterprises earned 3.88 trillion yuan in profits in 2010, this presents a 49.9 percent increase from 2009 levels. 

China witnessed a CPI increase of 3.3 percent last year. Food prices have risen 7.2 percent while the prices of agricultural products surged 10.9 percent.

2. Housing Prices versus Fixed-Asset Investments

Housing prices have followed an upward trend in 70 big and medium-sized cities in the first half of 2010, and then a gradual downward trend during the second half of the year. Prices peaked in April at about 12.8 percent and hit bottom in December at 6.4 percent.

Fixed-asset investments reached 27.81 trillion yuan in 2010;  this was a 23.8 percent increase from the previous year. Adjusted for inflation,the real growth rate is 19. 5 percent.In 2010, construction began on 5.9 million units of government-subsidized housing. 3.7 million units have been completed.

3. Fiscal Revenue

The Chinese government received 8.3 trillion yuan in fiscal revenue. This was 1.4 trillion yuan, or about 21.3 percent higher than the revenue from the previous year. The total tax revenue was 7.32 trillion yuan, up by 23 percent from 2009.

4. Employment

11.68 million urban residents were employed last year, up 660,000 from the previous year. By the end of 2010, the registered unemployment rate was 4.1percent, which was 0.2 percentage points lower than that of the previous year. The population of farm workers last year amounted to 242 million, a 5.4 percent increase from that of 2009. The population of migrant workers was 153 million, an 5.5 percent increase from the previous year.

5. Exchange and Currency Depreciation

China's foreign exchange reserves reached 2.83 trillion US dollars at the end of 2010. This was 448.1 billion US dollars more than that of the previous year. Meanwhile the dollar appreciated 3.0 percent against the RMB, compared to 6.6277 percent in 2010.

6. Trade figures

The entire import and export volume of last year was 2.97 trillion US dollars, up 34.7 percent compared to 2009 figures. The export of goods reached 1.57 trillion US dollars, an increase of 31.3 percent. Imports reached 1.39 trillion yuan, up 38.7 percent.

Source

National Bureau of Statistics: 2010年国民经济和社会发展统计公报 (Chinese)

National Bureau of Statistics: Statistical Communiqué of the People's Republic of China