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China’s 2008 GDP Up 9.6%, Unit GDP Energy Consumption Down 5.2%
26 December 2009
Xinhua. China’s National Bureau of Statistics (NBS) has revised key economic figures for 2008 following its second national economic census, including gross domestic product (GDP) growth rate, energy use growth rate, and rate of reduction in energy use per unit of GDP.
The country’s 2008 GDP growth rate has been revised upward from 9.0 to 9.6%, raising GDP for that year from the previous estimate of 30.067 trillion yuan (US$4.4 trillion) to 31.4045 trillion yuan (US$4.6 trillion). NBS estimated that China is on track to achieve 8% GDP growth rate in 2009.
China’s reduction in energy consumption per unit of GDP has also been revised upward, to 5.2% from the previous estimate of 4.59%.
National energy consumption totaled 2.91 billion tonnes of standard coal equivalent, including 80.3 billion cubic meters of natural gas, 195 million tonnes of natural crude oil, and 2.8 billion tonnes of raw coal. According to NBS, this represents a increase in primary energy use of 2.12% over the previous year.
Last month, China’s State Council pledged to reduce (link 3) the carbon intensity of its economy by 40 to 45% by the year 2020, as compared with 2005 energy intensity. Critics have argued that much of that reduction is already built in to the modernization of the Chinese economy.
China’s national economic census will be conducted every five years to inform social and economic development strategies for each Five Year Plan. The 12th Five Year Plan will run from 2011 to 2015.
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