N E W S
Rising China faces social, political challenges in 2006
BEIJING -- Events in China during 2005 point to a country on the rise in the economic sphere, but one that faces a variety of daunting political and social dilemmas.
China's ascendancy in the global economy was made clear by upward revision of its gross domestic product figures for 2004 to more than $1.9 trillion dollars, nearly 17 percentage points better than first estimated by the National Bureau of Statistics. Better data collection in the tertiary sector, especially among privately owned companies, accounted for 93 percent of the amended GDP figure.
These numbers enabled China to rank as the sixth-largest economy in the world, surpassing France. Economists predict the country's GDP for 2005 will see it overtake Britain for fourth place, behind only the United States, Japan and Germany.
China's Industrial Firms Enjoy 20 PCT Surge In Jan-Nov Profit
BEIJING, Dec 23 Asia Pulse - The profit of China's industrial enterprises increased by 20.1 per cent on-year in the first eleven months of 2005, the National Bureau of Statistics reported on December 22.
The mining sector continued to lead the rise in industrial profit. In the first eleven months, the profits in the coal, petroleum, ferrous metals and nonferrous metals industries jumped by 74.3 per cent, 69.2 per cent, 37.5 per cent and 109.5 per cent on-year respectively.
Among the major 39 industrial sectors, petroleum exploration, coal, current equipment, agricultural and sideline foodstuffs processing and textile industries enjoyed the most newly added value.
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