China's economy maintained a steady but rapid growth in 2005. Reforms had been effectively enforced in key fields. More efforts were also made on the work of promoting employment and social security. Further, the living quality of urban and rural residents had been continuously improved, and Chinese market was further opened up to the outside. All these lay a sound foundation for the social and economic development in China in National 11th Five-Year Plan period. But on the other hand, the economic structure needs to be improved, and the extensive economy has to be transformed into intensive one.
In 2005, China's GDP totaled RMB 18.2321 trillion, up by 9.9% compared to the previous year, among which, the added value of primary industry was up to RMB 2.2718 trillion, increased by 5.2%, that of secondary industry up to RMB 8.6208 trillion, with a rise of 11.4%, and that of tertiary industry up to RMB 7.3395 trillion, up by 9.6%. CPI (Consumer Price Index) rose by 1.8%. What’s more, the total employed staff amounted to 758.25 million, up by 6.25 million compared to the end of a year earlier. China's foreign exchange reserve reached USD 818.9 billion, with an increase of USD 208.9 billion compared to the end of previous year.
GDP and its Growth in National 10th Five-Year Plan (RMB Billion; %)
In 2005, grain output reached 484.01 million tons with a year-on-year rate of 3.1%, up 14.54 million tons over the previous year. Timber output was 47.46 million cubic meters, decreasing by 8.7% compared to last year. The total consumption of primary energy amounted to 2.06 billion tons coal equivalent (tce), 9.5% rise from previous year. Moreover, power generation was up to 2.4747 trillion kWh, up by 12.3%. Coal output got to 2.19 billion tons, a rise of 9.9%, and that of crude oil 181 million tons with 2.8%.
In 2005, the fixed asset investments reached RMB 8.8604 trillion, up 25.7% compared to the previous year. Retailing amount of consumer goods was up to RMB 6.7177 billion, a rise of 12.9% year-on-year. Deducting the price rising factors, the actual growth was 12.0%. Total value of exports and imports was USD 1.4221 trillion in 2005, rising 23.2% from 2004.
The report gives a detailed analysis of all aspects of China's national economy in 2005. The data in the report is sourced from National Bureau of Statistics of China and Beijing ResearchInChina Consulting Co., Ltd. This report offers valuable references for both enterprises and investors, and helps them to be acquainted with the latest developments of China's economy.