The National Bureau of Statistics released the "Statistical Communique on National Economic and Social Development in 2011" yesterday. Xie Hung-kwong, deputy director of the National Bureau of Statistics, described the communique as "a different kind of landscape in the world." Xie Hongguang believes that the national economy gradually shifts from policy-driven growth to endogenous growth. In 2011, the contribution rate to economic growth was 105.8%, and the rapid rise in real estate prices was effectively controlled.
Last year, the need to contribute 105.8% to the economy
The "Statistical Communique" shows that in 2011 China's GDP reached 471,564 billion yuan, an increase of 9.2% over the previous year. According to Xie Hongguang, “The national economy has gradually shifted from policy-driven growth to endogenous growth.â€
From the perspective of national economic accounting, the contribution of investment and consumption to economic growth was further increased in 2011, and the contribution rate of domestic demand to economic growth was 105.8%. Among them, the contribution of final consumption to economic growth was 51.6%, an increase of 10.1 percentage points over the previous year; the contribution of total capital formation to economic growth was 54.2%, an increase of 1.4 percentage points.
The trade surplus further narrowed and last year it continued to reduce the surplus of US$26.4 billion. “The strengthening of the endogenous power of economic growth and the weakening of foreign dependence have effectively promoted the balanced growth of domestic and foreign demand growth,†said Xie Hongguang.
Million yuan GDP energy consumption decreased by 2.01%
The communique data also shows that the national energy saving and environmental protection cause has achieved remarkable results. The national energy consumption per 10,000 yuan of gross domestic product (GDP) dropped by 2.01% from the previous year. At the same time, among the 330 cities monitored, 293 cities have air quality standards above Grade 2 (including Level 2) accounting for 88.8% of the monitored cities.
In addition, in terms of scientific research, China’s research and experimental development (R&D) expenditures in 2011 amounted to 861 billion yuan, an increase of 21.9% over the previous year, accounting for 1.83% of the gross domestic product (GDP). Xie Hongguang said that last year the central government continued to increase support for non-profit scientific research institutions, deepen the reform of management systems for scientific research institutions, support the implementation of major scientific and technological special projects, and focus on promoting the construction of distinctive regional innovation systems.
Last year, the need to contribute 105.8% to the economy
The "Statistical Communique" shows that in 2011 China's GDP reached 471,564 billion yuan, an increase of 9.2% over the previous year. According to Xie Hongguang, “The national economy has gradually shifted from policy-driven growth to endogenous growth.â€
From the perspective of national economic accounting, the contribution of investment and consumption to economic growth was further increased in 2011, and the contribution rate of domestic demand to economic growth was 105.8%. Among them, the contribution of final consumption to economic growth was 51.6%, an increase of 10.1 percentage points over the previous year; the contribution of total capital formation to economic growth was 54.2%, an increase of 1.4 percentage points.
The trade surplus further narrowed and last year it continued to reduce the surplus of US$26.4 billion. “The strengthening of the endogenous power of economic growth and the weakening of foreign dependence have effectively promoted the balanced growth of domestic and foreign demand growth,†said Xie Hongguang.
Million yuan GDP energy consumption decreased by 2.01%
The communique data also shows that the national energy saving and environmental protection cause has achieved remarkable results. The national energy consumption per 10,000 yuan of gross domestic product (GDP) dropped by 2.01% from the previous year. At the same time, among the 330 cities monitored, 293 cities have air quality standards above Grade 2 (including Level 2) accounting for 88.8% of the monitored cities.
In addition, in terms of scientific research, China’s research and experimental development (R&D) expenditures in 2011 amounted to 861 billion yuan, an increase of 21.9% over the previous year, accounting for 1.83% of the gross domestic product (GDP). Xie Hongguang said that last year the central government continued to increase support for non-profit scientific research institutions, deepen the reform of management systems for scientific research institutions, support the implementation of major scientific and technological special projects, and focus on promoting the construction of distinctive regional innovation systems.
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