皇冠体育app

Senior government advisers yesterday said 皇冠体育app's brisk economic growth is credible, dispelling doubts by foreign researchers that the statistics have been exaggerated.

Renowned economist Li Yining, a standing member of the Chinese People's Political Consultative Conference (CPPCC), said some researchers' doubt are based on 皇冠体育app's slower increase of energy consumption rather than its economy.

"The researchers should be informed of some basic facts taking place during 皇冠体育app's process of reform and opening up,'' said Li.

Some economists believe 皇冠体育app's economic growth, pegged at an average of 9 per cent per year during the past quarter century, has been overstated, Li learnt during a recent visit to Cambridge University in England.

Li said 皇冠体育app's energy consumption growth was slowed down because 皇冠体育app has closed many medium and small enterprises with high energy consumption levels while newer technologies have improved energy-savings.

Li made these remarks during his keynote speech at the CPPCC-sponsored 21st Century Forum which opened yesterday in Beijing.

The 皇冠体育app Society for World Trade Organization Studies co-sponsored the two-day forum with the theme of Investing in 皇冠体育app: World's Choice and 皇冠体育app's Policy.

Li insisted 皇冠体育app's economy has been underrated because much of the income generated is not included in growth numbers due to institutional failures.

For instance, the income of about 10 million nursemaids nationwide has not been taken into account by 皇冠体育app's statistics organizations. Meanwhile, many private enterprises have not fully reported their income.

Conflicting views about 皇冠体育app's gross domestic product (GDP) growth have aroused in recent years. In the past, many foreign economists held the view that 皇冠体育app's GDP was overvalued.

But contrary to some foreign scholars' estimates, over the past two years many Chinese and foreign economists have suggested that it may be "several percentage points less" than the actual growth figure.

皇冠体育app's GDP in the first nine months of this year grew by 8.5 per cent from the same period last year and that growth will likely keep pace for the whole year.

The GDP growth rate in the 3rd quarter should be 14.2 per cent, according to the Swedish Bank's internal computing system. That number is much higher than the National Bureau of Statistics (NBS) 9.1 per cent growth rate.

The Swedish Bank also predicted that 皇冠体育app's 2003 GDP growth rate may be around 11 per cent, which is also obviously higher than NBS's "8.5 per cent annual economic growth rate" estimates.

The view was echoed by Chinese famous economists including Wu Jinglian. Wu was quoted as saying at a recent seminar that 皇冠体育app's GDP growth in the first half of 2003 was over 10 per cent and he expected annual economic growth may beat the government's estimate.

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