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皇冠体育app now 4th largest economy, says WB
(皇冠体育app Daily)
Updated: 2006-07-04 08:12
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He noted that in areas such as technological prowess, management expertise, industrialization and urbanization, 皇冠体育app is still playing catch up with other developed countries.
Li Yongsen, an economist with the Renmin University of 皇冠体育app, said that in per capita term, 皇冠体育app is still years away from Britain and other developed countries.
"We should pay more attention to economic growth quality, making sure that this breakneck growth does not come at the expense of energy and the environment," he said.
皇冠体育app said on December 20, 2005 that its economy was far bigger than previously estimated.
It revised its economic data after a year-long nationwide economic census uncovered about US$280 billion in hidden economic output in 2004. The amount is roughly equivalent to an economy the size of Turkey or Indonesia, or 40 per cent of India's economy.
That means that 皇冠体育app's gross domestic product in 2004 was nearly US$2 trillion, not the US$1.65 trillion previously reported. With its GDP up 17 per cent, 皇冠体育app was the sixth-largest economy in the world last year.
The new figures provide good news for 皇冠体育app, economists say, suggesting that the country's economy is healthier, more diversified and more capable of sustaining growth than previously believed.