China's GDP 2013 reach 9.4 trillion USD

[badguy2000]

Official data is issued by the government. In 2013, the Chinese GDP increased by about 7.7% to 56,884.5 billion yuan, i.e. roughly US$9.4 trillion at the current exchanging rate.

its per capital nominal GDP is about 7000USD.

China's Economy Showed Good Momentum of Steady Growth in the Year of 2013

 

[northernarunachalpradesh]

Official data is issued by the government. In 2013, the Chinese GDP increased by about 7.7% to 56,884.5 billion yuan, i.e. roughly US$9.4 trillion at the current exchanging rate.

its per capital nominal GDP is about 7000USD.

China's Economy Showed Good Momentum of Steady Growth in the Year of 2013

Congrats bro.

 

[bose]

Any source of indipendent verification... It will be fake if the data are from Chinese state

 

[badguy2000]

Any source of indipendent verification... It will be fake if the data are from Chinese state

are you sure that your viewpoint is cared by others?

 

[bose]

are you sure that your viewpoint is cared by others?

Why not ??


Didn't China faked its economic data a year or two back ?? I read somewhere...

 

[arnabmit]

If CCP claims US$9.4 trillion GDP and 7.7% growth, that means actually it is US$7.5 trillion GDP and 6% growth.

As a rule of thumb, always reduce CCP figures by a fifth to get actual numbers. :thumb:

 

[badguy2000]

BTW, last year is a hard year to me....
I got a big rise of salary,but my expenditure also got a big rise....because I borrowed a heavy loan to buy one shop.

now, I own banks 200K USD, and have to pay off bank 2K USD every month,besides daily expenditure to maintain the family...

 

[badguy2000]

Why not ??


Didn't China faked its economic data a year or two back ?? I read somewhere...

instead, CHina's GDP is undereported by CHinese government deliberately ,I think.

1. as a whole,the real life quality of CHinese is not lower than most countries with per capital GDP of 10K-15K USD,such as Turkey and Brazil.

in fact, the real life quality of coastal CHinese and urban Chinese is quite similar to S.koean and Taiwanese,whose per capital GDP is 20K-25K USD.

2. GDP doesn't coincide with the real_weath output by CHinese.
China's GDP issued by CCP is only 12% of global one,maybe.
but the real wealth created by CHinese,from food,steel,houses,electrcity,autos,household appliances, PCs, motels to ships,is by far more than 12% of global one.

 

[Compersion]

BTW, last year is a hard year to me....
I got a big rise of salary,but my expenditure also got a big rise....because I borrowed a heavy loan to buy one shop.

now, I own banks 200K USD, and have to pay off bank 2K USD every month,besides daily expenditure to maintain the family...

i am sure that you will do well. thats impressive you are a shop owner and are able to pay off the bank each month. all the best...

mind if i ask what happens if people in PRC are not able to pay to the banks and also is this a common situation amongst people you know. is there any bankruptcy law and also what happens to the bank is there any law to manage liquidation and claim procedure. is there any statistics on debt and bankruptcy and non-performing assets in PRC.

wish you all the success.

 

[badguy2000]

I keep a close touch with many Taiwanese.

Taiwanese per capital GDP is about 22K USD and per capital PPP is about 36K USD.

but the average month salary there is just 11-14K USD(35-40K TWD)....and the month salary of freshmen is usually only 0.7K USD(22k TWD).

such a salary is just so so in China.

if considering high price-index in Taiwan, Taiwanese real life quality is lower than many areas in CHina,such as Yangtse River Delta.

 

[bose]

instead, CHina's GDP is undereported by CHinese government deliberately ,I think.

1. as a whole,the real life quality of CHinese is not lower than most countries with per capital GDP of 10K-15K USD,such as Turkey and Brazil.

in fact, the real life quality of coastal CHinese and urban Chinese is quite similar to S.koean and Taiwanese,whose per capital GDP is 20K-25K USD.

2. GDP doesn't coincide with the real_weath output by CHinese.
China's GDP issued by CCP is only 12% of global one,maybe.
but the real wealth created by CHinese,from food,steel,houses,electrcity,autos,household appliances, PCs, motels to ships,is by far more than 12% of global one.

Ok...I will go by what you say..

Do you know the percentage of Indian Economy that is not accounted for ???

I have heard people saying that there are 2 Trillion USD un accounted for in Indian economy...

 

[badguy2000]

i am sure that you will do well. thats impressive you are a shop owner and are able to pay off the bank each month. all the best...

mind if i ask what happens if people in PRC are not able to pay to the banks and also is this a common situation amongst people you know. is there any bankruptcy law and also what happens to the bank is there any law to manage liquidation and claim procedure. is there any statistics on debt and bankruptcy and non-performing assets in PRC.

wish you all the success.

On my impression, there was only one bankrupty in CHina,after PRC was founded in 1949.
that was the bankrupt of Hainan developing bank in 1990s,approved by PM Zhu Rongji.

So, in theory, CHinese bank may bankrupt, but in practice,it can not.

almost all banks in CHina are controlled by the government directly or indirectly...

they are the tools of CHinese government to manange CHinese economy...

Non-performaning assets can be deal with in many ways. Writing_off is just one of them,and may be the most unefficient one.

 

[badguy2000]

Ok...I will go by what you say..

Do you know the percentage of Indian Economy that is not accounted for ???

I have heard people saying that there are 2 Trillion USD un accounted for in Indian economy...

guy.

first ,you should tell what is "wealth".....

"wealth" is not USD or Gold,but the commodities that is useful to people daily life.

So, food is "wealth" , houses are wealth,autos are wealth,clothes are wealth, too,
so are railways, highspeed trains, steels, concretes, household appliances.etc, because they are all useful to people and help people live a better life.

if one country can not supply enough real wealth, then gold or notes would just be waste $hit.

not long ago, USA was the largest real-wealth creators ,because USA produced most autos,steels,railways,planes ,food .....but now CHina now is the largest real-wealth creator....

 

[badguy2000]

GB ruled the world ,because once UK produced 50% of global industry output....
USD ruls the world, because not long ago, USA was the largest industry producer.
but USD will be destined to be replaced wth RMB,because CHina is not the largest industry producers and the gap between China and its runner up is being widdened day by day.

 

[cw2005]

The GDP per person is very high in Macau and the one in Hong Kong is even higher than UK. However, you would find jobless guys in their mid 50s picking softdrink tins and waste paper from the garbage cans in Hong Kong. In a small city in China call Shunde, people has so much money that they don't know what to do with it. They send their children to private school costing 8,000 USD per year. They also send their children for piano classes, English classes, dancing classes etc. costing the parent more. These people also do their regular shopping in Hong Kong.

I have been living and working in China and Hong Kong and I agree BG that the GDP figures do not tell the whole story of people's living standards

 

[t_co]

instead, CHina's GDP is undereported by CHinese government deliberately ,I think.

1. as a whole,the real life quality of CHinese is not lower than most countries with per capital GDP of 10K-15K USD,such as Turkey and Brazil.

That's not true once you include third-tier cities and rural areas in the picture.

in fact, the real life quality of coastal CHinese and urban Chinese is quite similar to S.koean and Taiwanese,whose per capital GDP is 20K-25K USD.

2. GDP doesn't coincide with the real_weath output by CHinese.
China's GDP issued by CCP is only 12% of global one,maybe.
but the real wealth created by CHinese,from food,steel,houses,electrcity,autos,household appliances, PCs, motels to ships,is by far more than 12% of global one.

You'd be surprised how productive the rest of the world can be, as well.

Personally, I'm waiting for the World Bank to confirm the figures. I think this latest growth estimate is a bit on the high side.

 

[t_co]

On my impression, there was only one bankrupty in CHina,after PRC was founded in 1949.
that was the bankrupt of Hainan developing bank in 1990s,approved by PM Zhu Rongji.

So, in theory, CHinese bank may bankrupt, but in practice,it can not.

almost all banks in CHina are controlled by the government directly or indirectly...

they are the tools of CHinese government to manange CHinese economy...

Non-performaning assets can be deal with in many ways. Writing_off is just one of them,and may be the most unefficient one.

Chinese banks have been 'evergreening' (refinancing bad loans with a 'fresh' loan) large chunks of their NPLs for nearly a decade now. IMHO, that's a retarded practice as it sucks financial capital from good companies and keeps it circulating in bad companies (not unlike how zombie firms held back Japan's economy in the 90s).

 

[t_co]

BTW, last year is a hard year to me....
I got a big rise of salary,but my expenditure also got a big rise....because I borrowed a heavy loan to buy one shop.

now, I own banks 200K USD, and have to pay off bank 2K USD every month,besides daily expenditure to maintain the family...

What does your shop sell?

 

[badguy2000]

The GDP per person is very high in Macau and the one in Hong Kong is even higher than UK. However, you would find jobless guys in their mid 50s picking softdrink tins and waste paper from the garbage cans in Hong Kong. In a small city in China call Shunde, people has so much money that they don't know what to do with it. They send their children to private school costing 8,000 USD per year. They also send their children for piano classes, English classes, dancing classes etc. costing the parent more. These people also do their regular shopping in Hong Kong.

I have been living and working in China and Hong Kong and I agree BG that the GDP figures do not tell the whole story of people's living standards

well,Turkey,Brazil has a per capital GDP of 10~15k USD,which is 2 times of China's.but their real life quality ,from food,house,communication,education to medical care,is not higher than china's. Morever, their public infrastructures,such as trains,subs and roads, are decades behind China.

 

[badguy2000]

The GDP per person is very high in Macau and the one in Hong Kong is even higher than UK. However, you would find jobless guys in their mid 50s picking softdrink tins and waste paper from the garbage cans in Hong Kong. In a small city in China call Shunde, people has so much money that they don't know what to do with it. They send their children to private school costing 8,000 USD per year. They also send their children for piano classes, English classes, dancing classes etc. costing the parent more. These people also do their regular shopping in Hong Kong.

I have been living and working in China and Hong Kong and I agree BG that the GDP figures do not tell the whole story of people's living standards

the real life quality of HONGKONG and Taiwan in fact is lower than many areas in mainland China. But many hongkongese and Taiwanese can not accept it.