BEIJING : China's economy was elevated to the world's fourth
biggest, overtaking France and Britain, after the government
announced robust economic growth of 9.9 percent in 2005.
Fueled by booming investment and active consumer spending, China's
gross domestic product (GDP) rose to 18.2 trillion yuan (2.3
trillion dollars) last year, the National Bureau of Statistics
said.
The 2005 growth rate, which took inflation into account, followed
an expansion of 10.1 percent in 2004 and 10 percent in 2003. The
performance also matched the average growth rate of 9.9 percent
recorded between 1993 and 2004.
Statistics bureau director Li Deshui characterized China's economy
in 2005 as "fairly good.
"The stability of the economic performance was strengthened to some
extent and progress was seen in more balanced development," he told
a briefing in Beijing.
China has now jumped from sixth to fourth on the list of the
world's biggest economies, overtaking France and Britain.
In 2004, France's economy totaled two trillion dollars and
Britain's was worth 2.14 trillion dollars but they recorded far
slower rates of growth than China last year.
Britain announced on Wednesday economic growth of just 1.8 percent
in 2005.
