Q3 Statistics. Up, Up and Up.

Related entries: Economy, General, News, Trading

The latest economic figures are out (as is the boss of the National Bureau of Statistics, Qiu Xiaohua – who was “removed” earlier this month). The FT reports:

    • Third quarter GDP growth: Up 10.4 percent (compared to 11.3% in the previous quarter). Growth in the 1st three quarters was 10.7 percent.

    • Fixed-asset investment in urban areas: Up 23.6 per cent (compared with 27.3 per cent in the 1st three quarters.

    • Trade surplus: Up 70 percent in the third quarter.

The Age adds that, with a surplus of US$110 billion in the first 9 months, China has already overtaken 2005’s full-year figure of US$102 billion. I think the government’s estimate of US$120-130 billion for the year is looking conservative – while the estimates to September were a mixed bag.

The FT report notes the government’s feeling that there has been some success in controlling economic growth, and that further tightening measures are therefore unlikely in the short term. While all may be well at home, the US and EU are unlikely to be pleased by the trade figures. People’s Daily notes:

    • Foreign trade value: Up 24.3 percent in the 1st three quarters (US$1,272.61 billion). Exports were US$691.23 billion, up 26.5 percent, while imports were up 21.7 percent to US$581.38 billion. The export figure for September was up 30.6 percent (US$91.64 billion), while imports were up 22 percent (US$76.34 billion).

Following on from this, a Reuters report issues a reminder about China’s foreign exchange reserves – which are approaching the US$1 trillion mark:

    “The central bank said on Friday that the reserves grew $46.8 billion in the third quarter to $987.9 billion — about $760 for every Chinese…It was the smallest quarterly rise this year, following increases of $66 billion in the April-June period and $56.2 billion in the first three months, but the pace of accumulation means the reserves will pass the $1 trillion mark before long.”

See news sources:

One Response to “Q3 Statistics. Up, Up and Up.”

  1. Archive » RMB: Still Rising| China Business Blog Says:

    […] omy While China’s population may be over a billion, its foreign reserves are already around US$1 trillion. Forbes notes that this figure could rise to US$1.5 trillion by 20 […]

Leave a Reply

You must be logged in to post a comment.