|FACTBOX: China's Economic Development since 2002|
The following are facts and figures from the National Bureau of Statistics which has released a series of reports on the country's economic achievements since the 16th National Congress of the Communist Party of China in 2002:
-- China's gross domestic product (GDP) expanded by an average annual rate of 10.7 percent during the 2003-2011 period.
-- The country's GDP reached 47.2 trillion yuan (7.43 trillion U.S. dollars) in 2011, up 150 percent from 2002 after adjusting for inflation.
-- The proportion of China's GDP in the world economy rose from 4.4 percent in 2002 to about 10 percent in 2011.
-- The GDP per capita reached 35,083 yuan in 2011, up 140 percent from 2002 after adjusting for inflation, representing an average annual growth of 10.1 percent.
-- Calculating with average exchange rates, China's GDP per capita rose from 1,135 U.S. dollars in 2002 to 5,432 U.S. dollars in 2011.
-- Total fiscal revenues stood at 10.37 trillion yuan in 2011, up 450 percent from 2002, representing an average annual growth of 20.8 percent.
-- Foreign exchange reserves reached 3.18 trillion U.S. dollars by the end of 2011, representing an annual growth rate of 30.7 percent.
-- From 2003 to 2011, the primary industry grew by an annual rate of 4.6 percent, the secondary industry by 11.9 percent and the tertiary industry by 11.1 percent.
-- The contribution of domestic demand to China's economic growth rose from 92.4 percent in 2002 to 104.1 percent in 2011, while contributions from foreign demand dropped from 7.6 percent in 2002 to minus 4.1 percent in 2011.
-- The urbanization rate stood at 51.3 percent in 2011, up 12.2 percentage points from 2002.
-- Total grain production reached 571.21 million tonnes in 2011, up 25 percent from 2002, representing an annual growth of 2.5 percent.
-- Total fixed-asset investment during the 2003-2011 period amounted to 144.9 trillion yuan, marking an annual growth rate of 25.6 percent.
-- Total goods exports and imports reached 3.64 trillion U.S. dollars in 2011, up 490 percent from 2002, achieving an annual increase of 21.7 percent.
-- Foreign direct investment (FDI) into China totaled 716.4 billion U.S. dollars during the 2003-2011 period.
-- Retail sales of consumer goods totaled 18.39 trillion yuan in 2011, up 280 percent from 2002, realizing an annual increase of 16.1 percent.
-- The Engel's coefficient for urban residents dropped 1.4 percentage points from 2002 to 36.3 percent in 2011, while the coefficient for rural residents dropped 5.8 percentage points from 2002 to 40.4 percent last year.
-- Retail sales of consumer goods expanded 2.8 times during the past 10 years, or 16.1 percent annually, to hit 18.4 trillion yuan (2.92 trillion U.S. dollars) in 2011.
-- With government policies to boost farmers' buying capacity, the growth gap between consumer goods sales in urban and rural areas narrowed to less than 1 percentage point in 2011 from 7.7 percentage points in 2002.
-- Vigorous housing purchases boosted sales of home appliances as well as building and decorating materials.
-- Major Chinese auto retailers recorded an annual growth rate of 23.5 percent in sales from 2003 to 2011, and every 100 urban households had 18.6 units of vehicles at the end of last year, compared with 0.9 at the end of 2002.
-- Sales of cosmetics, jewelry, sporting goods, entertainment goods, electronic publications, audio-visual products, cultural and office goods, newspapers and magazines, and children's toys all expanded at an annual rate of over 10 percent during the past 10 years.
-- Electronic telecommunications products were also hot sellers in the period, with every 100 urban households owning 81.9 computers and 205.3 mobile phones, respectively, at the end of 2011, up from 20.6 and 62.9 in 2002.
-- Home appliances sold in rural areas under the government's subsidy programs since 2009 reached 218 million units, valued at a total of 505.9 billion yuan, as of the end of 2011.
-- To make shopping more convenient for rural residents, some 600,000 countryside stores had been established or renovated across the nation by the end of 2011.