Preliminary calculations showed that China’s Gross Domestic Product (GDP) topped 20 trillion yuan last year, 10.5 percent higher than the previous year, said Ma Kai, director of the National Development and Reform Commission in a report on current economic situation and tasks of the economic work of this year, on January 12.

Last year, China’s financial revenue reached 3.9 trillion yuan, an increase of more than 700 billion yuan over the previous year, and commodity prices remained largely stable. The per capita net income of farmers and per capita disposable income of urban residents were expected to grow 6 percent and 11 percent respectively in real term. The production of grain, which had been increasing for two years, registered another growth of more than 6 billion kilograms by totaling 490 billion kilograms.

China’s trade surplus surged to a record $177 billion last year. This was an increase of 74 percent over 2005.

Exports rose 27.2 percent from the previous year to 969.08 billion dollars, while imports were up 20 percent to 791.61 billion dollars.

 

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