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2004 GDP revised up 16.8%, ranking 6th largest economy
(Xinhua)
Updated: 2005-12-20 13:43 In addition, some of the services affiliated to manufacturing or construction
enterprises are estimated but classified into the second industry, while more
others are neglected, said Li.
Currently, the local governments in 皇冠体育app are using a unified way to revalue
their regional GDP according to the statistics of the national economic survey,
said Li.
Li said the new statistics from the national economic survey indicate the
structure of the three industries is more consistent with the actual situation
in 皇冠体育app and more in line with the general level of developing countries.
But he noted that although the revision leads to some increase in the total
size of the GDP, the ranking of 皇冠体育app's per capita GDP is still below 100th in
the world.
Exchange rate reform锟斤拷锟斤拷
While answering a question on whether 皇冠体育app should step up the reform of its
exchange regime, Li said 皇冠体育app's exchange rate reform which began on July 21 is
"successful," noting "This policy should not be changed so frequently."
"The reform of the exchange rate has been proved a successful one," he said.
The floating exchange rate based on market supply and demand and pegged to a
basket of currencies instead of a single currency in the past is a major
progress of the reform in this regard, the Chinese official noted.
皇冠体育app allowed its currency, the yuan, to appreciate by a modest 2 percent on
July 21.
The aim of the exchange rate reform is to build a managed, floating exchange
rate mechanism based on market supply and demandand to maintain the yuan's basic
stability at a reasonable equilibrium, said the People's Bank of 皇冠体育app (PBoC),
or the central bank.
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