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China's Nominal GDP Officially Passes Japan's
"China's GDP rises 9.1% in 2009, surpassing Japan
16:31, July 02, 2010
Beijing has revved up its 2009 GDP volume at more than US$5.29 trillion, exceeding Japan's US$5.08 trillion.
China's National Bureau of Statistics revised up the country's GDP (gross domestic product) growth rate for 2009 from 8.7 percent to 9.1 percent.
After a detailed check-up, the bureau modified the volume of GDP, a major gauge of a country or a region's economic production, to 34.0507 trillion yuan (US$5.296 trillion) last year, according to a Xinhua report.
With the upward revisions, China has surpassed Japan as the world's second-largest economy. Japan posted nominal GDP of US$ 5.085 trillion last year.
Most economists forecast China's economy will grow more than 10 percent in 2010, powered by strong domestic consumption and government-inspired investments in high-speed trains and new energies."
http://english.peopledaily.com.cn/90001/90...62/7050765.htmlmarshall said:China has officially passed Japan in nominal terms as the world's 2nd largest economy. Note the calculation discrepancy between 2008's GDP numbers and the revised 2009 numbers which increased from $4.909 trillion to $5.296 trillion. This was due to a revision to the 2009 GDP growth from 8.7% to 9.1% as well as a baseline change to the starting 2009 GDP number along with the recent Renminbi exchange rate increase.
"China's GDP rises 9.1% in 2009, surpassing Japan
16:31, July 02, 2010
Beijing has revved up its 2009 GDP volume at more than US$5.29 trillion, exceeding Japan's US$5.08 trillion.
China's National Bureau of Statistics revised up the country's GDP (gross domestic product) growth rate for 2009 from 8.7 percent to 9.1 percent.
After a detailed check-up, the bureau modified the volume of GDP, a major gauge of a country or a region's economic production, to 34.0507 trillion yuan (US$5.296 trillion) last year, according to a Xinhua report.
With the upward revisions, China has surpassed Japan as the world's second-largest economy. Japan posted nominal GDP of US$ 5.085 trillion last year.
Most economists forecast China's economy will grow more than 10 percent in 2010, powered by strong domestic consumption and government-inspired investments in high-speed trains and new energies."