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| Chinese economy grows 8.2 percent in first half year |
| CCTV.COM 2003-07-17 13:07:44 |
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China's gross domestic product totaled more than five trillion yuan in the first half of this year or more than 620 billion US dollars, up 8.2 percent year on year. The National Bureau of Statistics released the figures on China's economic performance on Thursday morning.
Chief NBS economist Yao Jingyuan says that SARS delivered a major blow to China's economic development in the second quarter of this year.
Yao said, "From April, some industries have been greatly hit by SARS. There has been a drop in the economic growth. According to statistics, the GDP in the second quarter dropped to 6.7 percent from the 9.9 percent in the first quarter. This is the lowest increase since 1992."
Tertiary industries suffered the most, their growth being about six percent lower than that of last year. Passenger transportation, catering, social service and traveling industry also suffered damage from SARS. The NBS also reported a sharp decrease in the growth rate of domestic sales. Retail sales increased only 6.7 percent, more than two percent less than last year. Farmers also felt the impact of SARS. The growth in agriculture also dropped by 1.2 percent from the first quarter. The average income of farmers also decreased during this quarter.
However, the picture painted by the National Bureau of Statistics is not as gloomy as it looks. The NBS economist says although the growth was slower than that in the first quarter, the eight percent still represents one of the fastest growths in recent years. What's more, the sustainable growth in industry, and the investment in asset and foreign trade in the first six months are the major drives of China's economic development.
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Editor: Yang Feiyang CCTV.com
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